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THE LIFE 



PUBLIC SERVICES 



JOHN SHERMAN. 



By BENJ, PERLEY POORE. 




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PUBLISHED BY THE 

SHERMAN CLUB OF CINCINNATI, 

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LIFE AXU PUBLIC SERVICES 



JOHN SHERMAN. 



BY BEN: PER LEY POO RE. 



JOHN SHERMAN'S paternal ancestors emigrated from Essex County, in old 
England, to Massachusetts and Connecticut, in New England, at the time 
when those colonies rose suddenly, like the dragon's teeth sown by Cadmus, 
into full-grown strength not, however, armed, like those fabulous warriors, with 
weapons for their own destruction, l>ut with the virtues, the vigor and the intelli- 
gence of the Anglo-Saxon race. 

1 li> grandfather, Taylor Sherman, of Norwalk, < lonnecticut, was an accomplished 
scholar and an able jurist, who received a -eat on the Bench, and who was .1 com- 
missioner of the Fire-lands settlements, when, in 1805, he went to Ohio to arrange 
some disputed boundary questions. While engaged in this service, he bi 
son ally interested in tracts of land, located in Sherman Township, Huron County.; 
Init he returned to Connecticut, where he died in 1S15. He married, early in 
Elizabeth Stoddard, a lineal descendant of Anthony Stoddard, who emigrated from 
England to Boston in 1639. She was a sincere and honest woman, devoted to her 
husband and her children, and lived to a good old age, dying in Ohio about 1848. 
Charles Robert Sherman, their son (the father of John Sherman), was born and 
brought up at Norwalk, Connecticut, wh< re he, in due time, commenced the study 
of the law in the office of his father, who was then assoc iated with Judge Chapman. 
lie- was admitted to the Bar in 1S10, and on the iotli of May of that year he married 
Mary Hoyt, also of Norwalk. who had grown up with him from childhood. She- 
was a steadfast, true-hearted woman, devoted to her family and beloved by her 
friends. A few months after Ids marriage he went to < >hio in search of a home, 
leaving his wife in Connecticut. He arrived at Lancaster, on his way to Cincin- 
nati, and was so much pleased with the place and the people that he concluded to 
remain there. Receiving a cordial welcome, he was soon engrossed in the practice 
of his profession. The following season his wife came to him across the Alle- 
ghanies on horseback, carrying her infant child (afterward Judge Charles T. Sher- 
man) on a pillow strapped before her saddle. Tt was a long and dreary road, beset 
witli hardships, but Mr-. Sherman was fortunate in having as companions a con- 
siderable party of emigrants from her native region, who sought on the western 
slope of the Alleghanies a new home. 



2 THE FATHER OF JOHN SHERMAN. 

Cheered by the presence of his wife and child, Charles Robert Sherman rapidly 
rose to eminence as an eloquent advocate, and as a judicious, reliable counselor. 
His professional character was spotless, and while he would refuse clients, when 
his conscience would not permit him to screen their wrong-doings, he was always 
ready to plead the cause of the innocent and oppressed without reward. While 
devoted to his profession, he extended his reading beyond his law books, and 
was generally versed in the literature of the day. He was a prominent member 
of the Masonic fraternity, and filled the highest offices in the grand bodies of 
that order in Ohio. 

During the pioneer years of Ohio, tradition records that its lawyers were 
obliged to travel over extensive circuits in practicing their profession. They 
were accustomed to accompanying the courts from county to county, and in this 
way to traverse a large extent of country. Those early days also commemorated 
the warmest personal friendships in the profession, as its members were forced 
into the most intimate companionship. They rode together on horseback, their 
saddle-bags stuffed with briefs, documents, law books, clothing, and generally 
some creature delectation also. They were exposed in common to the same 
inclemencies and impediments of travel; they 'lodged together at the same 
taverns, eat at the same tables and slept in the same rooms, generally two in 
the same bed. Manly, jovial, and free-hearted, after a hard fought day of 
professional antagonisms in court, they would crowd the evening hours with 
social amenities, winged with wit and merriment, with pathos, sentiment and 
song. 

In 1823, Mr. Charles R. Sherman was elected by the Legislature of Ohio to 
the Bench of the Supreme Court; and perhaps the only man in the State who 
doubted his ability for this high position was himself. He expressed fears that 
he lacked the ripe experience of years necessary to hear and determine cases of 
magnitude in a court of last resort ; but he fully realized the large expectations 
of his professional friends and the public. His written opinions, published in 
Hammond's Reports of the Supreme Court of Ohio, demonstrated a mind of 
the choicest legal capabilities. They are clear, compact, comprehensive and con- 
clusive, and have since been respected by the Bar and the courts in Ohio and 
other States as judical opinions of the highest authority. Judge Sherman won 
upon the Bench, as he had at the Bar, the affection and confidence of his 
professional associates. They esteemed him for his gentle and genial ways, for 
the brilliant flashes of his mind, and the solid strength of his judgment; and, 
above all, for the stainless integrity of his character as a judge and as a man. 
The Supreme Court was then, under the provisions of the constitution, required 
to hold an annual term in each county of the State, two of the judges officia- 
ting. In every court room in Ohio where Judge Sherman presided he made 
friends. His official robes were worn by him as the customary habiliments, 
and he was never haughty, austere, or overbearing on the bench. He had thus 
entered upon the sixth year of his official term, in the full fruition of his 
matured, intellectual powers, and in the enjoyment of apparently robust physical 
health, when, as he was about to hold a session of the Supreme Court at 
Lebanon, he was suddenly, and without any premonition, stricken down with a 
fatal malady. The best medical aid was promptly summoned from Cincinnati, 
but in vain. A messenger hastened to Lancaster for Mrs. Sherman, but before' 
she could reach Lebanon her husband had breathed his last. He died on the 
24th of June, 1829, in the forty-first year of his a^e. 



JOHX SHERMAN'S EARLY J. JFK. 3 

Mrs. Sherman was thus left a widow with eleven children. The oldest, 
Chas. T. Sherman, eighteen years of age, was then at college, and the youngest 
was an infant, about a month old. Her means were limited; her husband never 
having accumulated much property, and she had to depend upon what she had 
inherited from her father. Kind friends came to her assistance in her bereave- 
ment and took charge of the oldest children. Mr. Thomas Ewing, a neighbor 
and friend of the deceased, adopted the third son, William Tecumseh, and 
procured his appointment as a cadet at West Point, where he was trained for 
his great services in upholding the Union and bearing its flag in triumph 
•'from mountains to the sea." 

John Sherman, the eighth child, was only six years of age when his father 
died, and when the happy domestic circle was suddenly broken. His recollec- 
tions are of the gradual scattering of the family, until only four children 
remained at home with their mother, and in due time he also left. A cousin 
of his father, named John Sherman, a merchant at Mount Vernon, who was 
recently married, took the fatherless lad home with him in the spring of 1831, 
and he remained with him four years, attending school constantly, with the 
exception of occasional visits to his home. Many pleasant incidents of his life 
at Mount Vernon are remembered by the oldest citizens and by himself. The 
schools were very good, and his progress was rapid and satisfactory, but, 
according to the traditions, he was rather a wild and reckless boy, always in 
the lead in mischief and sport, of which some amusing anecdotes are told. At 
the age of twelve he returned to Lancaster, with a view to going to Mr. Howe's 
Academy, th^^a rather famous school. He attended that institution constantly 
for two years,^R the end of which time he was far enough advanced to have 
entered the sophomore class at college. 

At that time (the spring of 1837), through the influence of Charles Sherman, 
he was tendered a position by Colonel Curtis, as junior rod-man on the Mus- 
kingum improvement, and gladly availed himself of the chance to make his 
own way in the world. lie was then fourteen years old, tall and strong, more 
like a lad of sixteen or seventeen, and advanced in his studies — being well 
versed in most branches of mathematics, knowing a little Latin, and having 
studied the other branches necessary for his preparation for college. Two things 
stood in his way: First, the want of means; and second, his earnest desire to be 
independent and to relieve his friends of all care on his account. During his 
ride in a stage-coach from Lancaster to Zanesville and thence to McConnellsville, 
he enjoyed the sense of freedom and independence with all the hopes and 
anticipations of the future. At Mansfield he met Colonel Curtis for the first 
time; was received very heartily, and at once made at home in his family and 
among his acquaintances. After a few days he was ordered to report to the 
Engineer Corps — then engaged in preparations for the Muskingum improvement. 
The long walk of sixteen miles which he took one summer's afternoon with 
James L. Love, now the United States District Judge of Iowa, was thought little of 
at the start, but was considered afterward as about the hardest day's work of 
his life, as up to that time he had never undertaken to walk so far. They 
arrived, fatigued and worn-out, and joined the corps then camping in tents 
where the day's work left them; but as the country around was thickly popu- 
lated, the nights were usually spent in visiting the neighboring farmers, who 
were kind and hospitable. As Sherman and Love were new-comers, they had 
not been invited out, when on the second night at their camp, as they were 



4 JOHN SHERMAN AS A CIVIL ENGINEER. 

alone, a sudden storm came up, Mew their tent down, drenched them with rain, 
ami left them in a sorry plight for the rest of the night. 

After the work was carried to maturity, the corps was divided among the 
different stations where locks or canals were to he constructed. Sherman was 
stationed at Lowell as junior rod-man for Assistant Engineer Coffinbury. In the 
spring ..i" 1838, by the resignation of the officer in charge of the work at 
ly, Sherman was temporarily placed in charge and there remained during 
the rest of his service on the improvement. This necessarily devolved on him 
a considerable responsibility, including the measurement of excavations, embank- 
ments and stone materials, the necessary leveling for a lock to the canal, and a 
"reat variety of business growing out of the construction of a work that Mas to cost 
about £300,000. Mr. Sherman has always regarded the responsibility thus thrown 
upon him, and the necessary diligence and care in performing the duties 
assigned to him, as a better education than any he could possibly have had 
elsewhere in the same time. It taught him to study accuracy in details and 
close attention to business, and inspired .self-confidence. In the severest months 
isarily suspended, especially in the construction of the 
.lain, and in laying the masonry of the lock. He was thus left a month or two 
of leisure in the winter of 1S38-39. This he endeavored to occupy by a salt 
speculation, which was for a long time a subject of joke among his kindred and 
friends. II,- purchased a lot of salt ami loaded it on a scow, intending to float 
with it and three or four men down the river to Cincinnati. The prospects of 
the speculation were very good, as salt was high at Cincinnati and low in Mus- 
kingum, but, unluckily, within one day's float of the mouth of the river Sher- 
man's boat was fro/en up light and remained there two months, until the season 
I by and left him a loser instead of a gainer, lie, however, when the 
river permitted, went to Cincinnati, where his brother I.ampson P. Sherman 
lived, as a member of the family of the somewhat famous Charles Hammond, 
then the editor of the Cincinnati Ga rtte. lie there spent a week or two in the 
usual enjoyment of youths of his age, and had many long rambles about Cin- 
cinnati. 

In the fall of 1S.3S, the Whites, who had been in power, were suddenly thrown 
out by the election, and during the following winter a new board of Public Works 
commenced the common policy of making changes in the employes on the public 
works. Col rel Curtis, whose politics were well known, was removed from his posi- 
tion in the spring of 1839, simply because he was a Whig. His subordinates were 
not changed for a time; but, as a sense of their gratitude to Colonel Curtis, most of 
them signed a letter expressing their confidence in him and their regret at the official 
separation. Some of these young men who signed this paper were i >, and 

others were Whigs; but the letter was construed as an offense by Captain Wall, a 
member of th» board of Public W01 1 -, in i harge of the improvement, and all who 
had signed the letter were summarily turned out. So, in the summer of 1839, 
young Sherman was removed from his humble position, because he was a Whig. 

Although but sixteen years of age, John Sherman was by birth and training an 
active, earnest Whig boy; and, without much knowledge of the dispute between 
partie-, he was without doubt as honest in his opinions as many grown people who 
knew- more of the subject-matter. 

Upon being thus ousted, he returned to Lancaster and made up hi- mind to 
Study law; but, before doing SO, his earnest desire was to go to college and com- 
plete a regular course. During his servicein the Engineer Corps he had improved 



JPHX SHERMAN STUDIES AXD PRACTICES LAW. 5 

himself by reading, by reviewing his studies, and by contact with men; so that he 
could readily enter the junior year; and that was his wish, but, unfortunately, no 
pecuniary means were available. Some of his kindred had been embarrassed by 
the revulsions of the panic of 1837, and most of them were too poor to aid, and he 
was too proud to seek aid from others; so that, after a winter of rather listless 
study at Lancaster, upon the invitation of his brother Charles, he determined to go 
to Mansfield to study law, keeping the hope of entering college in reserve. 

Charles Sherman was then a good lawyer, in active practice, mostly as a com- 
mercial lawyer in the collection of debts of Eastern merchants, unmarried, and 
nearly thirty years of age. John was just nineteen, tall, strong and active. Mans- 
field was then a village of Iioo inhabitants, in its earliest stage of growth, without 
pavements or other improvements, in the midst of a country which had been 
settled less than thirty years, but which was rapidly becoming peopled with good 
farmers, most of whom were of Pennsylvania descent and Democratic politics. It 
was known as the "Berks of Ohio," from its very large Democratic majorities. 
As a matter of course, any political ambition was entirely out of the question ; and 
was fortunate for the young man that it was so for many years. John Sherman's 
uncle, Jacob Parker, an old, well educated lawyer and a man of influence, lived in 
Mansfield and took great interest in his nephew's progress. He constantly aided 
and directed him in his course of studies. After he had read Blackstone and Kent, 
he was set at work on Coke upon Littleton, and kept three months at this driest of 
books, being frequently examined as to his progress. Judge Parker was a great 
lover of the Law of Tenures and of ancient English law. Soon afterward (while 
young Sherman was still a student), he became a judge of the common pleas court, 
and continued so until a short time before his death. 

While studying law young Sherman regularly prepared the pleadings, and did a 
good amount of the office business of his brother, practiced before justices of the 
peace, prosecuted a great variety of business, and after the first year was entirely 
self-supporting, and lost all interest in his former desire to complete a collegiate 
course. 

The bar at Mansfield was then considered a very able one — as much so as any 
in Ohio. James Stewart, T. W. Hartley, Jacob Brinkerhoff, were then active practi- 
tioners, and all of them were subsequently judges of the higher courts ; and a number 
of other lawyers of very respectable standing contested with them. Quite a large 
number of law students were then in Mansfield, among whom were Hon. Samuel J. 
Kirkwood and Hon. W. B. Allison, now United States Senators from Iowa ; Frank 
Barker, and others who were admitted to the bar and attained distinction. These 
younger lawyers organized themselves into a moot court, which for a year or two 
was very useful, but finally broke up. The four years of life spent as a law student, 
though longer than necessary, was still not without its value. Under the laws of 
Ohio young Sherman was compelled to wait until he was twenty-one years of age 
before he could be admitted, and impatiently did so, as lie was prepared for admis- 
sion before, and was restrained from engaging in practice before the court until the 
day of boyish emancipation came. Those who knew him then, speak of him as 
having a quiet, determined manner, and once started in a direction he could not be 
turned aside until he had succeeded, or satisfied himself beyond a doubt that he 
was not working to a successful result. lie had no bad habits or evil companions, 
but gave his whole mind and attention to his professional studies. While not a 
jovial companion, in the usual acceptance of the term, he was always genial and 
affable to all, and seemed more desirous of winning friendship through respect than 
establishing a reputation for good fellowship. 



6 JOHN SHERMAN STUDIES AND PRACTICES LAW. 

Mr. Sherman was admitted to the bar on the nth of May, 1844, at Springfield,. 
Ohio, and he at once entered into partnership with 1 is brother (Charles T.) at 
Mansfield. From that time forward he was constantly, actively and profitably 
employed in the practice of his profession, until he -was elected a member of 
Congress in 1854. Incessant in his application to business, conciliatory in his 
deportment, and identified with the people of Mansfield and the surrounding sec- 
tion, he soon occupied a high position in the courts. His oratorical powers -were 
not of that old Roman school of declamation which was practiced by the Revolu- 
tionary fathers and their immediate descendants; but he argued his cases after a 
plain, blunt, straight-forward style, which secured him the attention of the court 
and won the confidence of the jury at the outset. His conversational manner gave 
freshness and vigor to his legal arguments, as though his thoughts were spontane- 
ous, and he was quietly drawing all the law and the facts from the case of his 
client. Occasionally, when deeply interested, he would speak with wonderful 
rapidity, and although he was at times sarcastic, his words never carried a venom- 
ous sting. To work was apparently Mr. Sherman's ambition, and he succeeded. 
He not only studied with great care all cases in which he was retained, searching 
industriously for decisions bearing upon them, but he kept himself read up in the 
legal literature of the day. He also prosecuted his general reading, especially 
upon the great public questions of the period, and endeavored to ascertain the 
wishes of the people around him concerning them. No obstacle was ever permitted 
to remain in his way; and this, if we may believe Abraham Lincoln, is a family 
trait. When a revolt took place in the earlier part of the war for the suppression 
of the rebellion, and General William Tecumseh Sherman subdued it, one of the 
officers complained to President Lincoln that the General had been very severe in 
his language, and had said, if a similar disorder took place again, one of the old 
regiments should fire on the regiment of recruits that was so disorderly. The offi- 
cer asked Lincoln whether he didn't think that severe. "Well," said Mr. Lin- 
coln, "don't you trust those Shermans; they are so apt to do just as they say they 
will." The citizens of Mansfield found that their young lawyer, when he undertook 
to do anything, was very apt to do it. 

While Mr. Sherman had been a student, the building and the growth of rail- 
roads had been commenced — three of them being constructed, within a short period, 
through Richland county, of which Mansfield is the county-seat. The first was the 
road from Mansfield to Sandusky, now a part of the Baltimore and Ohio Road. It 
was a flat-bar, illy constructed railroad, but was the best kind then thought of, and 
answered the purpose of a forerunner to those which followed. It was at times 
dangerous to ride on it on account of the "snake-heads" or rails, which, by the 
weight of the cars, would be bent upward and forced through the cars. Mr. Sher- 
man was the attorney for this road ; attended to its business and assessed the dam- 
ages for roadway. So strong was the popular current in favor of railroads that the 
damages assessed on twenty miles of the road were only $2,000, and most damages 
assessed on a farm were at the rale of one cent. It was considered unpatriotic and 
illiberal to demand any damage at all. Some years after the construction of this 
imperfect road, the Cleveland and Columbus Road was built through the north- 
ern part of the county ; while the Pittsburgh and Ft. Wayne Road was built 
through Mansfield and a rapid growth of the town immediately followed, bringing 
with it a large increase of profitable business to lawyers and others. 

Shortly after Mr. Sherman was admitted to the bar his mother removed from 
her own home at Lancaster to Mansfield, where she and her two younger daughters 



JOHN SHERMAN SECRETARY OF WHIG CONVENTION. 7 

kept house for him, and where she remained until her death in 1852, after her chil- 
dren were all married. In the winter of 1846-47, Mr. Sherman made his first visit 
to Washington, remaining near a month, during which time he became acquainted 
with most of the men of the day, and especially with Mr. Douglass, then a promi- 
nent Democratic leader, who treated him with great kindness, and who, but for his 
politics, would have won his hearty support. His recollections of this visit are 
quite vivid, and are carefully preserved in a series of interesting letters which he- 
wrote to personal friends at home. 

In the spring of 1848 Mr. Sherman was selected by the Congressional district 
in which he lived as a delegate to the National Convention to be held at Phil- 
adelphia. When the convention was being organized, upon motion of Colonel 
Collyer, he was made a Secretary of the body by the jocular remark that there 
was a young man there from the State of Ohio who lived in a district so 
strongly Democratic that he never could hope to get an office unless that con- 
vention gave him one, and with the laugh that this created Mr. Sherman 
advanced to his position. Mr. Defrees, now Public Printer, said there was a 
young man from Indiana in precisely the same situation, and moved that 
Schuyler Colfax be made Assistant Secretary. Colfax and Sherman walked up 
to the stand together. The position of the delegates at Philadelphia was one of 
high responsibility — each man had doubtless his sectional pride and personal 
feelings to influence him; but there was an overruling consideration. The 
enemy was in possession of the Capital — under whom could a change be effected? 
who was there with pure integrity, tried patriotism, high abilities and known 
principles, who could rally the Whig forces and inspire them with confidence? 
The convention followed the example of the ancient Romans and sought an 
American Cincinnatus, whose disinterested virtues, simplicity of manners and 
long public services had won for him a reputation which in the hour of peril 
filled the hearts of his countrymen and sent them to seek him in his tranquil 
home to offer him the chief command of the Republic. The history of his life, 
as inscribed on the records of his country, was his recommendation ; and they 
selected him because they knew him by his deeds and felt positive that a civic 
wreath would be added to the victorious crown of him who "never surren- 
dered." 

Mr. Sherman cordially supported the nomination and canvassed a portion of 
Ohio for him. "Old Zack" lost that State, but he was elected President and 
occupied the White House. During that same summer (on the 30th of August) 
Mr. Sherman was married to Miss Cecilia Stewart, the only child of Judge 
Stewart, of Mansfield, who came there from Western Pennsylvania. She is a 
lady of rare accomplishments, and capable of filling any social position, but 
domestic in her tastes, a thorough house-wife, and kind to the poor and needy. 

During the winter of 1848-49 the excitement about the discovery of gold in 
California became very strong. The first clear account received in Ohio was in 
a letter from Captain, now General Sherman, to his brother John, in which he 
stated clearly and at length the history of the discovery and its effect upon 
affairs in California. Mr. Sherman has this letter in his possession, and, in view 
of subsequent events, it is very interesting. 

In the spring of 1849, Mr. Sherman built his house at Mansfield. It is a 
plain, brick edifice, with a corner porch as seen from the front, and has since 
been remodeled by the addition of a mansard roof. This porch, in summer, is 
the Secretary's favorite resting-place; and up under the roof is his library and 



8 JOHN SHERMAN'S HOME-LIFE AT MANSFIELD. 

study. The house is surrounded by well-kept grounds, ornamented with a 
variety of shade trees, through which a broad drive way leads up to the 
entrance. 

For years Mr. Sherman was very actively employed in the common country 
law practice of Ohio in those days. lie rode the circuits of several counties, 
attended the courts, tried cases, collected debts; and, besides, transacted a 
variety of miscellaneous business. While he was a public-spirited and generous 
citizen, and far removed from any smallness in money matters, he enjoyed the 
reputation of being a shrewd financier, who never made a mistake in his calcu- 
lations concerning investments. It is stated, by one who knew him well, that 
he made it a rule, early in life, to lay aside at least $500 each year, and to 
regulate his expenditures in conformity with that determination. He never 
failed to do it; and when he saw this safely invested, then he used more — if 
there was more for pleasure, or was more liberal in personal expenditures. 
About six years after he commenced the practice of law, he embarked in the 
manufacture — then new to that part of Ohio — of flooring, doors, sashes, blinds 
and other wood-w'ork used in house-building. This investment was a profitable 
one. yielding him a handsome profit for a number of successive years. 

In the Whig Convention of Ohio, held in 1850, Mr. Sherman took an active 
stand in favor of General Scott as the next Whig candidate for President, and 
made a speech which at that time was thought to have had great influence in 
directing public opinion in Ohio toward him. It was so well received that a 
proposition was made to nominate Mr. Sherman for Attorney-General; but the 
Committee thought proper to renominate Henry Stanbury. It has been previ- 
ously stated that John Sherman was a Whig boy; and as he grew older he 
became more wedded to the principles of Washington and Hamilton, John 
Marshall, Henry Clay and Daniel Webster principles that will live and illustrate 
the history of this country and of constitutional liberty through all coming 
time. The Whig party was eventually broken up by unscrupulous politicians; 
but its choicest principles were preserved and embedded into the creed of the 
Republican party. Those who had advocated them still assert with pride their 
title to the appellation of "an Old Whig." 

In the summer of 1852 Mr. Sherman was elected by the State Convention a 
Senatorial delegate to the National Convention to be held at Baltimore. He 
attended that enthusiastic and able gathering, where he warmly supported Gen- 
eral Scott, who was nominated. He advocated the selection of this old hero, 
not merely for his distinguished military services, but for his eminent qualities 
as a civilian, his honesty as a man, his integrity as a citizen, and his devotion 
to the Union, in defense of which he had poured out his life's blood, and for 
the perpetuation of which he had pledged '-his life, li is fortune and his 
sacred honor." Returning to Ohio .Mr. Sherman participated in the canvass, 
but with very unsatisfactory results. While the election was pending he heard 
of the sudden death of his mother, and relinquishing his remaining appoint- 
ments he returned home to Mansfield. 

In the winter of 1853-54, Mr. Sherman opened a law office in Cleveland, with 
the intention of removing there at some future time; but the proposition then 
pending to repeal the Missouri Compromise, excited the greatest agitation and 
alarm throughout the State greater than has been known at any period since. 
It shook all parties to their foundation. The bad policy of the movement, its 
want of faith, its threatened danger for the future, created a profound impression 



JOHN SHERMAN A REPRESENTATIVE IN CONGRESS. 9 

upon public opinion, and upon Mr. Sherman's own mind as well. Up to hat 
time he had been what might be called a conservative Whig ; anxious to avoid 
all discussions about slavery ; feeling that it was wrong, indefensible, and ought 
to be abolished, but believing it was protected by the Constitution, and, there- 
fore, ought not to be assailed. This proposed repeal convinced him that the 
contest between freedom and slavery must come ; that it was unavoidable, and 
that the proper and true way was to enter the lists. First, upon the ground that 
in no event should slavery derive any benefit from the repeal of the Missouri 
Compromise ; and, Second, that it should as rapidly as possible be abolished in all 
the Territories of the United States. When the Congressional Anti-Nebraska 
Convention, as it was called, met, composed of those who had been members of 
the Democratic, the Whig, and the Free Soil parties, great difficulty existed in 
forming a fusion of opposing elements, jealous of each other. The choice finally 
fell upon Mr. Sherman, who was then but thirty-one years of age ; and while a 
prominent Whig, was not so prominent as to be subject to bitter hostility from 
opposing factions. There was a good deal of feeling in the northern counties of 
the district because he was not up to their standard of opinion on the slavery 
question ; but his personal canvass through the district tended to dissipate these 
fears, and he was elected, receiving 8,617 votes against 5,794 votes for Win, D. 
Lindsley, who then represented the district in Congress. 

Mr. Sherman attended and was President of the first Ohio Republican State 
Convention, in 1S55, which nominated Salmon P. Chase for Governor, and par- 
ticipated in the organization of the great Republican party, which was at once 
progressive, yet prudent ; radical, yet conservative ; neither afraid of the new 
because it was new, nor contemptuous of the old because it was old. His acute- 
ness of intellect, indefatigable industry and wisdom, which is master of his 
temper, gave him a commanding position in the ranks of the new political move- 
ment, and since that time his life has been a part of the public life of the 
country. 

Mr. Sherman took his seat in the House of Representatives of the Thirty- 
fourth Congress on the third of December, 1855, S i- K >' ea rs before the war — -six 
years of political strife, of civil commotion, ripening into open rebellion, which 
formed an eventful career in our political history. Those who were meditating 
the establishment of a new empire, based upon the enslavement of the African 
race, were menacing, bitter and uncompromising; while, affiliated with them by 
party tics, though not in sympathy, were Cass, Douglass, and other northern 
Democrats, who vainly struggled against the current of events. Among the great 
questions debated during these six years were: the repeal of the Missouri Com- 
promise, the Dred-Scott Decision, the Imposition of Slavery upon Kansas, the 
Fugitive Slave Law, the national expenditures and receipts, grave questions of 
finance, and other kindred measures involving the very existence of the Republic. 

Mr. Sherman brought with him into the halls of the National House of 
Representatives, at the commencement of the discussion of these vital questions, 
the habits of business, and of patient labor and of thorough investigation which 
his early training had given him ; and he very soon acquired the respect of all 
his associates and the confidence of his political friends in no ordinary degree. 
He often participated in debate, and by his full comprehension of the subject, 
the result of careful and dispassionate examination, and by his familiar acquaint- 
ance with public affairs, rose rapidly in reputation. A good speaker, a clear 
thinker, and a logical reasoner, his strong point was in the proportion of his 



i; JOHN SHEKMAA ON THE INVESTIGATING COMMITTEE. 

faculties to each other, which made him, without being an extraordinary man in 
any one particular, equal to the greatest occasion, and to every difficulty. In 
times of unexampled excitement and difficulties, he conducted himself with such 
dignity that he impressed all who approached him with profound respect, and 
yet inspired all with affection, esteem and confidence; and to this end he united 
a firm fidelity to his principles, his party and friends, which was proof against 
all changes and disasters, combining the foriiter in re with the suavitcr in modo. 
His bitterest political foes were disarmed by his calm and philosophical bearing; 
and his best friends shrank from all attempts to sway him from the path of duty, 
from his honest convictions, and from his loyalty to the Union. 

There was a tierce and protracted struggle attending the election of Speaker 
when Mr. Sherman took his seat, and on the ninety-ninth ballot he gave his 
reasons for voting for General Hanks, as follows: 

" I care not whether he is a member of the American party or not; I have 
been informed that he is, and I believe that he is; but, I repeat, I care not to 
what party he belongs, 1 understand him to take this position — that the repeal 
of the Missouri Compromise was an act of great dishonor, and that under no 
circumstances whatever will he, if he have the power, allow the institution of 
human slavery to derive any benefit from that repeal. That is my position! 
I have been a Whig, but I will yield all party preferences, and will act in con- 
cert with men of all parties and opinions who will steadily aid in preserving 
our western territories for free labor ; and I say now that I never will vote for 
a man for Speaker of this House unless he convinces me by his conduct and 
by his views that he never will, if he has the power to prevent it, allow the 
institution of slavery to derive any advantage from repealing the compromise of 
1820." 

A variety of resolutions were introduced, as the balloting for Speaker was 
continued, propounding interrogatories as to the political opinions of the several 
candidates. Mr. Sherman finally introduced one which read thus: "Resolved, 
That the only tests of the opinions of any candidate for public office are his 
votes and acts ; and that no man ought to occupy the high position of Speaker 
of this House whose opinions upon important political questions are so unknown 
that it is necessary to examine him as a witness.' 1 

Kansas had meanwhile become a battle-ground between the advocates of 
slavery from the South and the opponents of it from the free States, each 
faction hoping to secure the ascendancy. A state of violence amounting to 
actual civil war ensued, and numbers were killed in guerrilla contests. Rival 
State governments were established, each with its constitution, Governor and 
Legislature, while acts of horrible atrocity were committed by organized bands 
of "Holder Ruffians," who roamed about the country plundering, and often 
murdering peaceable and unoffending settlers. The matter became so serious 
that the House of Representatives passed a resolution on the 19th of March, 
authorizing the appointment of a committee of three by the Speaker, to inquire 
into and collect evidence in regard to the troubles in Kansas generally, and 
particularly in regard to any fraud or force attempted or practiced in relation 
10 any of the elections which had taken place in that Territory. The appoint- 
ment of Mr. Sherman as a member of that Kansas Investigating Committee was 
a turning-point in his political career. It came to him very unexpecte'dly when 
he was on his way from Mansfield to Washington. He received a telegram at 
Pittsburg that Speaker lianks had announced his appointment, and that it was 
extremely important that he should go at once, and without returning to Wash- 
ington, so he started for Kansas accompanied by Mrs. Sherman. The Commit- 



JOHN SHERMAN AND THE BORDER RUFFIANS. n 

tee was composed of Mr. Howard of Michigan, Chairman, Mr. Oliver of Mis- 
souri, and Mr. Sherman. It was understood that Mr. Sherman was appointed 
by Speaker Banks because he was a lawyer fresh from practice, familiar with 
the modes of taking testimony, and sufficiently industrious to apply himself to it. 
Mr. Howard was in feeble health, and it was feared that he would not be able 
to bear the fatigue of great labor. The Committee met at St. Louis, and then 
proceeded by river to Kansas City, accompanied by five or six persons as clerks, 
stenographers or sergeants-at-arms. Their arrival created great excitement. 
They proceeded at once to Lawrence, and commenced taking testimony. The 
state of society in Kansas was novel to Mr. Sherman, who for the first time 
found himself iri the presence of men armed and ready for fighting. Under the 
patronage of the New England Emigration Society, a body of able and brave 
men from that section of the Union, together with active spirits from the then 
Western States, were determined to maintain their right to establish a free State 
in Kansas. Among them were Dr. Robinson, afterward Governor, John Brown 
and General James Lane. On the other side the rough frontier population 
from Western Missouri was reinforced by daring young men from the South, 
largely from Georgia and South Carolina. Almost every man bore arms, and 
the condition of society could not have been more lawless and dangerous. 
Murders had been committed by Missourians for political reasons, and it was 
unsafe to travel anywhere along the border. The settlements were confined to a 
few along the Missouri River, from Kansas City northward to Atchison, and 
along the Kansas River from Kansas City to Topeka. But few settlements had 
been made ten miles from one or the other of these rivers. Lawrence had been 
laid out, and the town started with capital furnished no doubt by the Emigrant 
Aid Society, but there was not a brick house there with the exception of the 
Free State Hotel, and that was unfinished, having but two or three rooms plas- 
tered, and the plaster was green. 

The Committee commenced taking testimony, but it was all on one side, as 
the Missouri people did not think it safe for them to appear, but a very com- 
plete statement was obtained of the Free State side of the question, and a 
general history of the violence at the previous elections, which was the main 
object of the inquiry. The Capital of the State had been established by the 
Border Ruffian Legislature at Lecompton, a place about ten miles west of 
Lawrence, started as a pro-slavery town, and peopled almost entirely by pro- 
slavery men. 

After the committee had finished their work at Lawrence, they went to 
Lecompton and took testimony there. Governor Robinson accompanied them, 
and it was considered a very daring feat on his jiart to go to Lecompton, where 
some of the worst spirits had been collected. The committee then went to 
Topeka, a town laid out and started by the Free State men, and from there to 
Leavenworth, passing through the Indian reservation, where no white settle- 
ments existed. At Leavenworth they took a large mass of testimony, including 
that of some of the chief officers of the Government. 

At that time the spirit of hostility was more manifest than before. Lawrence 
was sacked by an organized military force from Missouri, who burned the Free 
State Hotel and many other buildings, and drove many of the inhabitants 
away. The same armed band of desperadoes went afterwards to Leavenworth, 
threatening to burn that town, and probably the presence of the United States 
troops at Fort Leavenworth, near by, was all that prevented the sacking of the 



12 JOHN SHERMAN AND THE BORDER RUFFIANS. 

town, and saved the lives of the committee. Notices (headed by drawings of 
the skull and cross-bones) of the border-ruffians to "wipe out" the committee, 
were posted on the doors of the committee-room. 

In view of these dangers, the committee had sent forward copies of the testi- 
mony then taken, by Dr. Robinson, but he was arrested on a boat on the Mis- 
souri River, and returned to the jail at Leavenworth. The testimony was concealed 
on the person of Mrs. Robinson, who was allowed to proceed on her journey, 
and she delivered it to Speaker Banks, to await the coming of the committee. 

After closing the testimony at Leavenworth, the committee went to Kansas 
City and Westport, a town a few miles back of Kansas City, where armed men 
were mustered for an Invasion of Kansas, and they saw a company parading in 
the street-, and marching off toward Kansas, where they committed atrocities. 
The development of the testimony, which was impartially taken from both sides, 
disclosed a condition of affairs worse, if possible, than civil war, and for a time 
the members of the committee were threatened that they should not leave the 
town alive. The presence, as a member of the committee, of Major Oliver, who 
was proven t" have participated in the election, but who was in many respects 
an excellent man, no doubt tended to protect them from violence. One day an 
armed company of about sixty men marched into the committee room, dressed in 
the border Style, with red shirts and trousers, with bowie knives and pistols in 
their bo.,!., and it was thought for the purpose of stopping the investigation. 

After the committee had spent about two months in this way, it concluded 
its labors in Kansas and started for Washington. Mr. Howard's health became 
so feeble that, at his request, his colleagues went with him to Detroit to collate 
the testimony and prepare the report. Arriving there he was so ill that the duty 
of preparing the report devolved upon Mr. Sherman, and with the assistance of 
the clerks who were with him, it was completed in about a week. Every state- 
ment made in the report was verified by the clearest testimony, and has never 
been controverted by any one. This report, when presented to the House, 
created a good deal of feeling, and intensified greatly the antagonisms in Con- 
being made the basis of the campaign of 1856. Mr. Sherman believed 
then, as he believes now, that the stand taken by the Free State men in 1856 
was all that prevented the extension of slavery over the Western Territories. In 
his speech in the House, he said in conclusion: "The worst evil that could 
befall our country is civil war; but the outrages in Kansas can not be continued 
much longer without producing it. To our Southern brethren I especially 
appeal. In the name of Southern lights crimes have been committed, and are 
being committed, which I know you can not and do not approve. These have 
excited a feeling in the Northern States that is deepening and strengthening 
daily, and may produce acts of retaliation. You are in a minority, and from the 
nature of your institutions, you relative power is yearly decreasing. In excusing 
this invasion from Missouri in attempting to hold on to an advantage obtained 
by force and fraud — you are setting an example which, in its ultimate conse- 
quenccs, may trample your rights under foot. Until these wrongs are righted, 
von must expect northern men to unite to redress them. It may not be this 
year; but, as sure as there is a Cod in heaven, such a union will be effected, 
and you will gain nothing by sustaining northern agitators in violating the com- 
promise of your fathers." 

The administration of President Pierce persisted in aiding the pro-slavery inter- 
ests in Kansas, — United States soldiers and officers joining with border ruffians in 



JOHN SHERMAN OPPOSES SLAVERY IN KANSAS. 13 

committing outrages upon the northern settlers. Mr. Sherman in a debate on the 
appropriations for the Territorial government of Kansas, in which it was stated that 
the Senate would not consent to certain provisions of the act as proposed by the 
House, remarked: "It is idle to say that the Senate will not consent, sir. We are 
the representatives of the people and can receive no law from them. If the Senate 
are willing to make the issue with this House, that prosecution for political offenses 
shall not cease: if they insist that law and justice should be perverted, and force 
and violence under the cloak of the judiciary shall reign supreme in Kansas, let 
them bear the responsibility. We will have done our duty and will be sustained 
by those who sent us here." 

In the Presidential election of 1S56, Mr. Sherman supported Colonel John 
C. Fremont for the Presidency, in opposition to Mr. Buchanan and Mr. Fillmore. 
To use his own words, he acted with the Republican party with hundreds of 
thousands of others, simply because the Republican party resisted the extension, 
but did not seek the abolition of slavery. The election of Mr. Buchanan aroused 
the free States to their utmost energy of action. lie not only was pledged to 
advance the interests of the slave-holding States by extending that institution in 
the Territories, but by the acquisition of Cuba. Mr. Sherman stoutly combatted 
the President's views. In reply to an inquiry put to him in the House of 
Representatives, as to carrying slavery into the Territories under the operation 
of the Constitution, he said: "The Constitution of the United States carries 
slavery nowhere. It is a local institution, confined within State limits, and goes 
nowhere except where express law carries it; but, if the Supreme Court of the 
United States should decide otherwise, I would acquiesce in that decision." 

Mr. Sherman, while a zealous champion of the rights of the Free States, 
took also an active part in legislation on a variety of practical questions, in 
the debate on the submarine telegraph he showed his opposition to monopolies 
by saying: "I can not agree that our Government should be bound by any 
contract with any private incorporated company for fifty years; and the amend- 
ment I desire to offer will reserve the power to Congress to determine the 
proposed contract after ten years." In the debate on the tariff bill, with a 
view to the reduction of the revenue and an increase of the free list, Mr. 
Sherman said: "The additions to the free list should be of articles not produced 
in this country and whose free importation will not compete in any way with 
the great interests of any section of this country." 

The Kansas question occupied a prominent place in the proceedings of the 
Thirty-fifth Congress. Mr. Sherman, in an able speech against the admission of 
tho new State into the Union, took the ground that Congress should not recog- 
nize the Lecompton or any other constitution that had not been framed by a 
convention to which the people had delegated full power, and which had not 
been subsequently submitted to and approved by a popular vote. He then said s 

"In conclusion, allow me to impress the South with two important warnings 
she has received in her struggle for Kansas. One is, that though her able and 
disciplined leaders on this floor, aided by executive patronage, may give her the 
power to overthrow legislative compacts, yet, while the sturdy integrity of the 
northern masses stands in her way, she can gain no practical advantage by her 
well laid schemes. The other is, that while she may indulge with impunity 
the spirit of fillibusterism, or lawless and violent adventure, upon a feeble and 
distracted people in Mexico and Central America, she must not come in contact 
with that cool, determined courage and resolution which forms the striking 
characteristic of the Anglo-Saxon race. In such a contest, her hasty and 
impetuous violence may succeed for a time, but the victory will be short-lived, 



i 4 JOHN SHERMAN ADVOCATE* RETRENCHMENT. 

and leave nothing but bitterness behind. Let us not war with each other; but, 
with the grasp of fellowship and friendship, regarding to the full each other's 
rights, and let us be kind to each other's faults, let us go hand in hand in 
securing to every portion .of our people their constitutional rights." 

The foreign relations of Government, the national census and other ques- 
tions, received Mr. Sherman's attention, and he was invariably a firm advocate 
for economy in the public expenditures. In a debate on the deficiency bill he 
strongly urged the necessity of more detailed statements regarding the several 
objects for which appropriations were asked by the different departments. "I 
am not disposed," he said, "to cavil at appropriations demanded by the neces- 
sities of the country. I think it is the duty of Congress, however, carefully to 
guard these appropriations from misapplication, and limit them strictly to the 
necessary expenses of the Government. In my judgment, our Government has 
departed from its original policy in the appropriation of money more than in 
anything else." * * 

"Before we appropriate a dollar of money we should know pre- 
cisely where the money has gone or is to go." 

» •:•:• * "I, sir, can not vote for any bill 

making appropriations, unless the committee that reports it can give the specific 
items that make up the aggregate sum." * 

* "It is our duty as legislators to examine 

these matters carefully; and the committee should either give us the items or 
refer us to some public document which contains them." 

The then prevalent system of making contracts in advance of appropriations 
was sternly denounced by him as illegal. He took the ground that the execu- 
tive officers, having no right to make any contract to expend a single dollar 
beyond the sums appropriated, violated the law in so doing; and he said i 

"Now under what authority of law are these things done? If they are legal 
and binding on the Government, then this House of Representatives is weaker, 
as respects the control over the expenditures of the Government, than the head 
of any bureau. I say, then, that if contracts have been made beyond the 
amounts appropriated by Congress, they are illegal, and I would punish the 
officers who made them." * * 

* And it is time that the representatives of the people 

should put a stop to such proceedings. Otherwise they will have no control over 
the disbursement of money upon the part of the executive officers." 

And his views of the duties of such representatives he gives in the following 
language: "Retrenchment and reform are now matters of imperative necessity. 
It is not the mere cry of demagogues, but a problem demanding the attention 
and worthy the highest ability of the representatives of the people. No party 
is fit to govern this country •which can not solve it. It is in vain to look to 
executive officers for reform. Their power and influence depend upon executive 
patronage, and while we grant they will squander. The Senate is neither by 
the theory of our system, nor by its composition, fitted for the task. This 
House alone has the constitutional power to perfect a radical reform. The 
Constitution provides that no money shall be drawn from the Treasury but in 
consequence of appropriations made by law, and that all bills for raising' revenue 
shall originate in the House of Representatives. These provisions were designed 
to invest this House with the entire control of the public purse — the power of 
supply. It is the pearl beyond price, without which constitutional liberty in 
England would long since have fallen under the despotism of the crown." 



JOHN SHERMAN A FRIEXD OF THE OLD SOLDIERS. 15 

And still further, in debating the same question, he says: "The proposition is 
simply this — to bring back this government to the original policy of appropria- 
ting for a specific purpose, to be expended by the Executive Department within 
a given time, and to refuse to the Executive the power to spend this money for 
any other purpose or at any other time. The proposition is plain, simple and 
practicable. The gentlemen talk about difficulties in public works when Con- 
gress is not in session. Why, Congress is always in session within three or four 
months before the beginning of the fiscal year. If any disturbances, or any 
difficulties, or any wars grow up in the course of the year, these difficulties 
should be submitted to Congress, and Congress ought to consider whether money 
appropriated for one purpose should be used for another, or whether money 
appropriated for one fiscal year should be used for another. But, by abuses and 
by our neglect, the Executive has seized on all these important powers, and 
exercises them instead of Congress." 

Mr. Sherman was a steadfast friend of the old soldiers. He opposed a pen- 
sion bill which discriminated against the soldier in favor of the officer, and which 
paid no regard to length of service, and offered an amendment remedying these 
defects. This amendment placed the soldiers of the war of 1812 and the soldiers 
of the Indian wars — up to 1815 — upon the precise footing soldiers of the conti- 
nental line occupied under existing laws. He maintained that the same honor 
and the same reward ought to be given to the soldiers of the war of 1S12 as was 
given to the soldiers of the Revolution. 

The bills appropriating public money were closely scrutinized by Mr. Sherman, 
especially those which related to naval affairs; and he introduced several reso- 
lutions for the investigation of alleged abuses at the navy yards, and in the 
purchase of fuel and of live-oak timber. While debating a naval appropriation 
bill, Mr. Sherman, in supporting an amendment which he had offered with a 
view to economy, said : " Mr. Chairman, occupying the position which I do, as 
a member of the Republican party, I might fairly say to gentlemen on the other 
side: pile on the appropriations as much as you choose; you have the 
responsibility of the government ; but I deem it my duty, as a member of this 
House, to endeavor to check, if I can, the growing extravagance of this adminis- 
tration, or of this Government — I do not care which. I therefore make this 
proposition on my own account, and will simply say that I submit it in good 
faith. If gentlemen on the other side of the House choose to vote it down, 
well and good ; they have the responsibility. I have performed my duty, and I 
do not care what they do." 

At the close of his second Congressional term, Mr. Sherman was recognized 
as the foremost man in the House of Representatives. As a debator he had 
shown himself to be ready and effective ; he had not attempted oratorical dis- 
plays ; his efforts were not characterized by the rich imagery of fancy, or the 
dazzling corruscations of genius; but he was always practical, thoroughly 
informed, judicious and forcible in his arguments. He had, from deep and 
unchanged conviction, adopted the political faith of the Republican party, but 
without any partisan rancor or malignity toward the South. With exemplary 
personal habits, unremitting in his attendance on the sittings of the House, and 
well versed in its intricate rules, it was not a matter of surprise to his friends 
that his name was mentioned in connection with the Speakership of the next 
House. 

Mr. Sherman was equally popular in private life, especially among the growing 



16 JOHN SHERMAN A CANDIDATE FOR SPEAKER. 

circle Of Free State men at Washington. An instance of his kindness of heart is 
related, which shows the condition of affairs at that time at the national capital. 
A poor colored woman had a slave son, about twenty years of age, decoyed from her, 
and she at last heard that he was in the prison-pen at Alexandria. It was the 
intention of the man who claimed him as a chattel to send him to Mississippi, but 
the bereaved mother was informed that she could purchase her son's freedom for 
Si, 200 in cash. She went to a lady well known in Washington, who had emanci- 
pated tin- slaves she had inherited', and who kindly gave her a list of names of 
those likely to assist her. Among them was John Sherman, who was the first to 
respond in the case with liberality, at once so seasonable and precious. 

The Thirty-sixth Congress commenced its first session amid the excitement 
caused by the' bold raid of John Brown, which was adroitly used by the leaders of 
the Southern oligarchy to consolidate public opinion in their section of the coun- 
try, and to cast opprobrium on the Republicans at the North. They saw that their 
ascendancy in the national councils was being brought to a close, and that if they 
were to carry out their plans for a dissolution of the Union, so as to establish the 
great slave empire of their dreams within the "golden circle," they must strike the 
blow during the administration of Mr. Buchanan. 

When the Mouse of Representatives met, a motion to adjourn over without vot- 
ing for Speaker was overruled, and a first ballot was taken without any result, some 
of the Republicans voting for John Sherman, while others voted for Galusha A. 
( trow. Mr. Grow, having the fewer number of votes, thereupon declined, and the 
House was about proceeding to a second ballot, with a fair prospect of the election 
of Mr. Sherman, when Mr. Clarke, a representative from Missouri, rose to denounce 
a recently published book, entitled: '-Helper's Impending Crisis," and to assert 
that no member of the House who had signed a recommendation of it should be 
elected speaker. The Republicans were thus drawn into an angry debate, and pro- 
tracted balloting ensued. The Democrats were unable to arraign Mr. Sherman 
upon his record, or for any vote or speech ; and they evidently feared his inflexible 
courage, uprightness, and determination to uncover the corruption of the admin- 
istration. All their energies were accordingly bent on Mr. Sherman's defeat; and 
hence the clamor over Helper's book, which was only the scapegoat of the occasion. 
For several weeks Mr. Sherman needed but three votes to secure his election; 
and he having been traduced as the standard-bearer of the Republican party, the 
members of that organization felt that they should not yield to the insolent dicta- 
tion of unsuccessful opponents, or to cowardly lies. Mr. Sherman reluctantly per- 
mitted himself to remain as a target for attack and insult, until he could no longer 
keep silence, and he thus defined his position: " I desire to say that since I have 
been a member of this House I have always endeavored to cultivate the courtesies 
and kind relations that are due from one gentleman to another. I never addressed 
to any member such language as I have heard here to-day. I never desire such 
language to be addressed to me, if I can avoid it. I appeal to my public record 
during a period of four years in this body ; and I say now that there is not a single 
question agitating the public mind, not a single topic on which there can be sec- 
tional jealousy or sectional controversy, unless gentlemen on the other side' of the 
House thrust such subjects upon us : I repeat it, not a single question." 

In relation to the Helper book, Mr. Sherman said: "I say now; I have said 
it from the beginning to all; I have sent word to the gentleman who introduced 
the resolution, that I am willing to have that Helper book read, page by page, 
and then avow or disavow every sentiment contained in it. I never concealed a 



JOHN SHERMAN A CANDIDATE FOR SPEAKER 17 

political opinion in my life, and never will. I am now willing, if that offensive 

resolution be withdrawn, to express at once my opinion of the extracts read at 
the Clerk's table ; but, until that is done I appeal to every man -who has a 
sense of manhood to say whether I could say mine than I have." 

As the canvass advanced, Mr. Sherman stated publicly that whenever the 
friends who had so gallantly and liberally sustained him thus far believed that 
his name in any way presented an obstacle to success, it was his sincere wish 
that they should adopt some other. Finally, after an eight week's struggle, it 
was intimated to Mr. Sherman that, if lie would give way, his colleague, 
Governor Corwin, might be elected ; and he patriotically retired from the con- 
test. It was first determined, however, to make an effort to concentrate the 
opposition vote on Mr. Pennington, of New Jersey; and the crowded galleries 
witnessed an exhibition of devotion to principles regardless of men, and of party 
discipline in its highest and best sense, which has no parallel in the annals of 
Congress. The supporters of Mr. Sherman marched over in solid column to 
Mr. Pennington, changed the ground they had so long and so gallantly main- 
tained, for a new position, — this flank movement being executed in the face of 
the enemy, and while exposed to his fire, without the loss of a single man. It 
challenged the admiration of the foe, compelling Democratic leaders to institute 
comparisons between their own broken ranks and the impregnable front of the 
Republicans and their allies. Pennington lacked two votes of an election, but 
the next day he was chosen, and Mr. Sherman conducted him to the Speaker's 
chair. Some of the Southern men who had been so bitter in their opposition 
were especially respectful in their greetings v? the Speaker, as they advanced to 
take the constitutional oath which they so soon afterward broke. Meanwhile 
they wanted to have conspicuous places on the Committees of the House, and 
were accordingly gracious to the dispenser of power and patronage. 

Recognized as the leader of the Republicans in the House, Mr. Sherman 
was appointed Chairman of the Committee of Ways and Means. He at once 
took a decided stand against the prevailing system of engrafting new legislation 
upon appropriation bills, saying: " This is a practice which has grown up within 
:he last few years, and the Committee of Ways and Means deem it their duty 
at once to put a stop to it; and we ha\e determined, so far as we can, to resist 
the adoption of all propositions looking to a change in existing law by amend- 
ments upon appropriation bills. The theory of appropriation bills is that they 
shall provide money to carry on the Government, to execute existing laws and 
not to change existing laws or provide new ones." 

Seeing the importance of a careful investigation into the merits of the 
Pacific Railroad scheme, then before the House, as a committee of the whole, 
Mr. Sherman introduced a resolution providing that the subject be referred to a 
select committee of fifteen members, with leave to report by bill or otherwise. 
This was the initiative in the construction of that great iron highway which 
binds together the people of the Atlantic and Pacific slopes. 

President Buchanan having sent to the House of Representatives a protest 
against the investigation by that body of certain subordinate executive officers, 
Mr. Sherman expressed a wish that this protest, against the exercise by the 
House of one of its most important constitutional prerogatives, should be care- 
fully considered; "Mr. Speaker,'' said he, " the doctrine set up by the President 
of the United States in this message is the same under which Europe was gov- 
erned for a thousand years — that the King can do no wrong; that is the doctrine, 



iS JOHN SHERMAN ON INDIVIDUAL RESPONSIBILITY. 

that the King can not be tried and executed, because the King could do no 
wrong. Charles I. went to the scaffold because the people of England believed 
that the King was not above and beyond their power. So it was with Louis 
XVI. and the French people. This doctrine set up by the President of the 
United States is, in my judgment, the very worst that lias been initiated since 
the foundation of this Republic." 

In a debate on the tariff bill, Mr. Sherman urged the necessity of co-operation 
on the part of different branches of the General Government, in order to promote 
economy, saying: "No permanent or substantial reductions can be made without 
an earnest co-operation between the Executive and Legislative branches of the 
Government. We can limit appropriations, but we can not, except by the pro- 
cess of impeachment, prevent the misapplication of the public money. We may 
appropriate for officers and clerks, but if the President or a head of Department 
will detail them to edit a party newspaper, or pension them for party services, 
by appointing them to offices whose duties they never perform, we can not pre- 
vent it. If the head of each Department shall, without fear or favor, administer 
his Department, applying to services rendered there precisely the same rule, as 
to fitness, industry, and compensation, as would be applied by any prudent 
private citizen in his own affairs, all the abuses we now hear so much of would 
soon cease.'' 

In May, 1S60, Abraham Lincoln was nominated by the Republicans for Presi- 
dent, and war was plainly declared against the principles and purposes of the 
oligarchy of the slave-labor. Stales. This made these conspirators, who had been 
for years plotting treason against the Government, more insolent than ever. Mr. 
Sherman, ever mindful of the necessary courtesy due from himself, was equally 
determined that others should pay him the same respect ; and in a debate on the 
use of unparliamentary language by a member of the House, he said: "Gentle- 
men on this floor can not be expected to allow these epithets to be applied to 
them. Either we must renew all the old habits and barbarous customs of the 
feudal duel, or we must enforce rigidly the rules of this House to avoid personal 
collisions. Shall we tolerate that which must inevitably end in disgraceful per- 
sonal battle upon this floor, or shall we rather enforce the rules of this House 
by condemning those who violate them? In the midst of an excitement we 
should never forget that we are the Representatives of the people, met to delib- 
erate upon the affairs of a great nation. Let us, then, with dignity, but without 
passion or feeling, cast our censure upon the member who has violated the rules 
of this House.'' 

When Congress met on the 3d of December, i860, the conspirators in both 
Houses were outspoken, truculent, and defiant. The message of President 
Buchanan was a non-committal document, showing that he was perplexed and 
overwhelmed by events which he had not the courage to control. Encouraged 
by his declaration, that the Executive possessed no constitutional power to use 
the Army and Navy for the preservation of the life of the Republic, the South- 
ern leaders worked openly for the destruction of the Union, which the President 
had neither the heart nor the desire to defend. 

Mr. Sherman, while carefully watching over the appropriation bills, took 
means to provide for the future support of the Government. Government, at 
that time, had not been able to pay for the past week or two the salaries of 
members of Congress and many other demands ; and it was to relieve these 
pressing necessities that Mr. Sherman secured the passage of the bill authorizing 



JOHN SHERMAN MAINTAINS THE PUBLIC FAITH. 19 

the issue of what have since been known as the Treasury notes of 1S60. He 
also introduced at an early stage of the session the following resolutions : 

" Resolved^ That the only true and effectual remedy for the dissensions that 
now exist between the several States and the people thereof, is in the faithful 
observance of all the compromises of the ('(institution, and of the laws made in 
pursuance thereof. 

" Resolved, That the Special Committee of thirty-three be instructed to inquire 
whether any State, or the people thereof, have failed to obey and enforce the 
obligations imposed by the Constitution; and if so, the remedy therefor, and 
whether any further legislation is required to secure such enforcement. 

"Resolved, That to avoid all further controversies in regard to the several 
Territories of the United States, said Committee divide said Territories into 
States of convenient si/e. with a view to their prompt admission into the Union 
on an equal footing with the other States." 

Recognizing the importance of maintaining the public faith and integrity at 
any cost, Mr. Sherman waived all objections to the high rates of interest which 
had been sanctioned by those who were anxious to destroy the national credit 
and to cripple the resources. The Senate having amended the House bill, Mr. 
Sherman thus explained the necessities of the occasion : " I will state to the 
House," said he, "that the House bill authorizes the President to sell these 
notes at any rate under par in order to raise the money. The Senate have 
preferred, however, in allowing the 1'resident to increase the rate of interest, to 
require that all notes shall be sold at par. They also authorize the President to 
issue them at eight, nine, ten, or whatever per cent, may be necessary to produce 
lhe money. They also limit the amount to be issued, bearing interest at a higher 
Tate than six per cent., to S3, 000,000. On consultation with the Secretary of tin- 
Treasury, it is found that this Limitation of S3, 000, 000 is too small, and my 
amendment is submitted for the purpose of obviating the difficulty. It author- 
izes the President of the United States to sell all the Treasury notes issued under 
this bill, if necessary, at a higher rate of interest than six per cent." 

In the angry debates which took place on a variety of propositions for paci- 
fying the defiant Southerners, Mr. Sherman was linn in his devotion to the 
rights of the people and to their freedom of opinions as expressed through the 
ballot-box: "Sir," said he, "it was but the other day that 1 was told by a 
distinguished citizen of an absolute monarchy — and the remark made a deep 
impression upon my mind that he deplored the events now transpiring around 
us; that lie deplored what lie considered the inevitable fall of this Republic; 
but, said he, one good will result from it: it will stop forever the struggle for 
free institutions in Europe ; it will establish upon a secure basis the existing 
governments of the < )Id World. 1 felt that the remark was true. If this Gov- 
ernment can not survive a constitutional election; if we can not defend our 
property and protect our flag; if this Government crumbles before the first sign 
of disaffection, what hope is there for free institutions in countries where kings, 
nobles, hereditary institutions, and laws of primogeniture have existed for ages? 
When in modern times the love of liberty has inspired tin- masses of any people 
to demand the right of self-governmi nt, they have been pointed to the French 
revolution of 179S, and to South America, where changing Republics rise and 
disappear so rapidly that not ten men in this House can tell me their existing 
names. They have been pointed also to Mexico. God forbid that the despots of 
the Old World should ever adorn their infernal logic by pointing to a disrupted 
Union here! It was said, with a poet's license, that, 'Freedom shrieked as 



20 JOHN SHERMAN STANDS UP FOR THE UNION. 

Kosciusko fell.' Sir, freedom will die with the fall of this Republic. Those 
who survive the first calamity will find springing into existence military despot- 
isms North, South, East and West. Instead of two divisions, there will be 
many divisions. The condition of this country will be worse than that of Mexico, 
because we are a braver, a stronger, a more powerful people, and shall fight 
each other with greater tenacity. If this Government is dissolved, the man now 
lives who will be the Napoleon of some section of this Republic. All history 
teaches us that a free government is never broken up and disrupted unless a 
military despotism of force is substituted for the will of the people; and we have 
no right to suppose that our country will be an exception to the general rule." 

While some of the malcontents in Congress deserted their ->caU and formally 
returned to their respective States to foment hostility to the Union, others who 
remained endeavored to cripple the financial resources of the Republic. It was 
their avowed purpose to throw upon the incoming Administration the large public 
indebtedness incurred under President Buchanan. One of their propositions was 
to provide no means for the retirement of the £10,000,000 of Treasury notes 
which the Administration of Mr. Buchanan had issued at twelve per cent, 
interest. Mr. Sherman, declaring that no Government and indeed no individual 
could afford to pay twelve per cent, interest for any length of time, introduced 
a bill authorizing the President to issue coupon bonds, bearing not to exceed six 
per cent, interest, for the payment of this loan. 

In a debate on the tariff bill he showed that when the Administration of Mr. 
Buchanan came into power there was less than $20,000,000 f public indebted- 
ness, which had been increased to nearly $100,000,000. "We must," said he, 
"as a matter of public duty, pass this or some other revenue bill— I do not 
care what bill it is. \[ Congress will not pass this bill, let the tariff bill of 1846, 
or any other measure, be introduced and passed; but this Congress should not 
adjourn without providing means to pay the ordinary expenses of the Govern- 
ment. This is not a favorite measure of mine. I had nothing to do with it. It 
was not framed by me. I am for a revenue tariff with such fair, and reasonable 
incidental protection to industry as may be derived from a revenue tariff. I am 
in favor of specific duties in all eases where they can be applied." 

Mr. Sherman was boarding at Willard's Hotel, at Washington, in February, 
1861, when Mr. Lincoln, accompanied by his wife, came there previous to his 
inauguration. Shortly after his arrival Mr. Sherman called to see him, and Ids 
fust salutation while shaking hands was, "and so you are John Sherman?*' He 
inspected him from head to foot and then said: "Well, I am taller than you, 
anyway; let's measure." They backed up against each other and some one said 
that Mr. Lincoln was two inches taller than Mr. Sherman. From that time 
their acquaintance and friendship continued during Mr. Lincoln's life. Mr. 
Sherman saw him as frequently as others, and narrates many pleasant anecdotes 
of him, several of which. have found their way into print. 

Mr. Sherman was in Washington in March, 1861. when the canvass occurred in 
Ohio for the election of a United States Senator, to take the place of Mr. Chase, 
who had resigned to accept the position of Secretary of the Treasury. On the first 
day's balloting Mr. Sherman had a decided plurality over General Schenck, Gov- 
ernor Dennison, and Mr. Delano; but his friends, finding that he could not at the 
first meeting receive a majority, withdrew his name and telegraphed him to come 
to Columbus. Before his arrival, two or three canvasses had been held, but 
there was no agreement as to a candidate. When Mr. Sherman arrived, the 



JOHN SHERMAN A VOLUNTEER IN THE UNION ARMY. 21 

field seemed to be clear. lie was again placed in nomination and was nomin- 
ated on the second day's balloting and promptly elected. 

Mr. Sherman took his seat in the United States Senate on the 23d of March, 
1 861. It was near the close of the executive extra session of that body, con- 
vened for the purpose of acting upon the nominations made by President 
Lincoln, and but little public business was transacted. A number of the States 
were unrepresented; but Pireckinridge, Clingman, Nicholson, Polk, Powell, and 
Wigfall still remained in their seals as Senators from their respective States, 
doing all in their power to cripple the General Government, while Dougla and 
Johnson had hopes that a civil war might be averted. In less than a week 
after Mr. Sherman took his seat the Senate adjourned sine die, and the Southern 
Senators hastened home to aid in organizing the great rebellion. 

A few weeks later Fort Sumter was fired on and secession was initiated. 
This aroused the northern spirit, and all partisan jealousies were obliterated in 
the determination to defend the old flag at all hazards. Twenty million free 
people appeared actuated by one mind, and volunteers responded to the Presi- 
dent's call from every part of the loyal North. Mr. Sherman was on his way 
home when the first proclamation of President Lincoln, calling for 75iOOO troops, 
w as issued. A company was promptly raised in Mansfield, under the command 
of Captain McLaughlin, who was a veteran of the Mexican war, which was one 
the of first organizations to take the field, and was mustered into the United 
States service as Company "I" of the First Ohio Volunteers, at Columbus, on 
the iSth of April. The two Ohio regiments then received into the service of 
the United States were ordered to Philadelphia. Mr. Sherman joined them at 
Ilarrisburg, and there tendered to General Patterson, in command of the troops 
then being levied for the Pennsylvania border, his aid in any way that he 
thought consistent with his duties as a Senator. General Patterson appointed 
him his aide-de-camp, without pay, and Mr. Sherman remained with the Ohio 
regiments and General Patterson until the meeting of Congress in July, 1861, 
serving at the time of the crossing of the Potomac opposite Williamsport. 

Congress responded to the proclamation of President Lincoln, convening 
them in extra session on the 4th of July, 1S61 ; but when the Senate and the 
House were called to order, it appeared that the Southern States were unrepre- 
sented. There were also indications at Washington of a disinclination to assume 
an aggressive attitude toward the South, which forcibly struck the Senator from 
Ohio. 

'"Mr. President," said he. "when I came to the city of Washington I could 
not help but notice the striking contrast between the feeling here and the fee I- 
in«- at home. Among the people of the States there is everywhere a generous, 
noble enthusiasm. Men are willing to give up their lives to their country, 1 
came from a region of country where I saw men worth thousands of dollars, 
living in independence, with every comfort around them, come forward and sign 
their names to an enlistment by which they engaged to serve as common soldiers 
in this war. I saw old nun bring their sons, robust, stalwart youths, to fight 
for their country. I saw mothers and fathers all willing to give at least one or 
more members of their family to fight the battles of the country. Everywhere 
there was the same generous feeling, and a desire to carry on this war with 
vi"-or and energy. I do not see that feeling manifested here. On the contrary, 
in many departments of the Government there have been constant impediments 
thrown in the way of the organization of our military forces. 1 speak this 
knowing what I say, and willing to prove it." 

Senator Sherman, while he encouraged at this extra session the use of all 



22 JOHX SHERMAN RAISES A BRIGADE OF C'A'/OX TROOPS. 

available means for the prompt suppression of the rebellion, did not lose sight 
of the reforms in the disbursement of goverment fuiuii which he had advocated 
in the House of Representatives; and he introduced .1 I) ill to carry out those 
proposed reforms. Neither did he forget that he was a Senator under oatli ; and 
while he approved or several extraordinary acts of President Lincoln on a mat- 
ter of public necessity, he declined to vote for a resolution declaring that those 
acts were strictly legal. 

At the close of the extra session of the Senate Mr. Sherman returned to Ohio, 
to aid in the great uprising of the loyal North in defense of the Union and of 
the old flag. Regiments were in progress of enlistment in different sections of 
Ohio, and he assisted until the October election, when, having received from Gov- 
ernor Dcnnison authority to raise a brigade, he applied himself diligently to that 
work ; adopting an organization somewhat peculiar, but which proved a good one. 
Prior to the first of December he had recruited upon his own plan, and largely 
at his own expense, two regiments of infantry, a squadron of cavalry, and a bat- 
tery of artillery, comprising over 2,300 men, of as good material as ever enlisted 
for the war. They were three years' troops, composed mainly of farmers' sons, 
and commanded by company officers of their own selection. lie had great diffi- 
culty in procuring the assignment to him of field officers possessing sufficient exper- 
ience to command men. He had announced in his plan that the leading com- 
manding officers should have received a military education, ;ind that he would see 
that persons competent to drill troops were selected. He had great difficulty in 
getting the assignment of such officers, and only succeeded upon the direct order 
of President Lincoln, and against the remonstrance of General Scott. Second' 
Lieutenants II. Harker and Forsythe, two young officers of the Regular Army, 
were finally assigned to the command of the two regiments ; Captain Bradley, 
an experienced sergeant of the Regular Army, was assigned to the command of 
the battery; and the squadron of cavalry was placed under the command of 
General McLaughlin, who had had some experience in the Mexican War, and 
resided in Mansfield. Before Mr. Sherman left, the troops were uniformed, 
armed, and as well drilled as was practicable in the short period of time. By 
the aid of Major Garesche, then Assistant Adjutant-General of the army, he- 
secured two or three sergeants and corporals of the Regular Army, to whom com- 
missions were given. The whole force was under the direction of Major Robert 
S. Granger, an officer of the Regular Army, who had been surrendered by 
General Twiggs in Texas, and was then on parole. This force served during the 
whole war, under the name of the "Sherman Brigade,'' and with the exception 
of the squadron of cavalry, was kept intact and together. 

Mr. Sherman came to Washington, at the meeting of Congress in December, 
intending to resign his seat as a Senator, and to offer his services in the army ; 
but both President Lincoln and Secretary Chase thought he ought not to do so, 
but that he should retain his place, where he could be of more service to the 
Union cause. He continued, however, throughout the war, to do all he could 
to promote enlistments through others, and he made it a matter of d*uty con- 
stantly to look to the interest of Ohio troops, and contributed to the relief of a 
great many officers and soldiers of his acquaintance who had been wounded in 
the service. 

Mr. Sherman's great services to the Union cause, however, were in his watchful 
care of the public finances, and in his endeavors to not only provide for the 
support of the armies in the field, but to maintain and strengthen the public 



JOHN SHERMAN OPPOSED TO LARGE SALARIES. 23 

credit. While advocating strict economy in the public expenditure, he was 
always careful not to inflict hardship upon others, or to treat any one with 
injustice, and lie never losl sight of the paramount necessity of preserving the 
Union. "Sir," said he, in February, 1862, when a foreign interference had been 

hinted at : 

"Rather than yield to traitors or the intervention of foreign powers, rather 
than bequeath to the next generation a broken Union and an interminable civil 
war, I would light the torch of fanaticism and destroy all that the labor of two 
generations has accumulated. Better .1 d( »ert and universal poverty than disunion; 
better the war of the French Revolution than an oligarchy founded upon the 
labor of slaves. But, sir, there is no need of this. The resources, wealth, and 
labor of twenty millions of freemen are amply sufficient to meet not only the 
physical, but financial difficulties of the war. Thank God! the test to which all 
nations in the course of their history are subjected, is applied to us when we 
have an insignificant national debt; when our resources were never more mani- 
fest; when the loyal States are so thoroughly united; when our people are filled 
with a generous enthusiasm that will make the loss of life and burden of taxa- 
tion easy to bear. If we conquer a peace by preserving the Union, the Consti- 
tution, our Nationality, all our ample Territories, the rebound of prosperity in 
this country will enable a single generation easily to pay the national debt, even 
if the war is protracted until desolation is written upon every rebel hearthstone. 

Mr. President, in my judgment, the only way by which our finances can be put 
in a satisfactory condition, is the adoption in proper forms of legislation of 
three propositions; first, the prompt levy of a large amount of taxes in the form 
of internal duties upon consumption and production rather than upon persons 
and property; second, the prompt revision of all compensation, whoever maybe 
affected thereby; and, third, the prompt punishment of every man, high or low, 
who takes or receives from the public Treasury a single dollar of money without 
rendering a true and proper return." 

An attempt to increase tin/ pay oi members of Congress u.i> sternly 1 
by Mr. Sherman. "How many years ago," said he, "was it when members of 
Congress came here at the rate of $8 a day and considered themselves pretty well 
paid? How long is it since a brave officer of die army served with the rank 
of Colonel at £1,500 a year? How long is it since Stewart and other gallant 
officers of the navy served for small pay? How long is it since the people of 
this country in their simple habits were willing to live on one moiety of what 
is now received even by your pages, your clerks, and your messengers?" Sup- 
pose that in this hour, to preserve our Government, and to maintain the Union, 
it is necessary for us to make this sacrifice; will it not lu- in a noble and a holy 
cause?" 

The acts of Congress providing for internal taxation originated in the Hou e 
of Representatives, but they were mosl carefully considered by th 1 im- 

mittee on Finance. Delegations were heard, and much of the time, especially of 
Mr. Fessenden and Mr. Sherman, was taken up in such hearings and in proposing 
amendments to the tax bills, many of which were of the most important charac- 
ter and largely absorbed their attention during the whole of the war. On these 
questions, as the records will show, Mr, Sherman participated very largely in 
the debates ; but most of the taxes then imposed have since been repealed. 

Mr. Sherman regarded some of tin e taxes as indefensible in principl 
voted for them, as a temporary expedient to raise money for revenue. 
Taxes then paid, in his opinion, not only tended to reduce the present pin 
commodities, but by reducing the sum to be borrowed enabled the Government 
to borrow on belter terms; while taxes withheld then largely increased the sum 



24 JOHN SHERMAN ADVOCATES LEGAL TENDER CLAUSE. 

to be levied afterward. What was paid then was paid without interest; for 
what was postponed to the future the country paid three-fold in accumulating 
interest. The war had given vast activity to all classes of industry, and yielded 
enormous profit to those who were in business. It was proper that they then 
paid to the Government their full taxes on these profits before they were con- 
sumed by expenditure. "Taxes," said Mr. Sherman, "must be fearlessly assessed 
and impartially collected. We can not increase our taxes after war; we must 
be prepared to reduce them. Taxes are more cheerfully paid now, in view of 
the mountain of calamity that would overwhelm us if the rebellion should 
succeed; but when we reach the haven of peace, when the danger is past, you 
must expect discontent and complaint. The grim specter of repudiation can 
never 'disturb us if we do our duty of tax-paying as well as our soldiers do theirs 
of fighting." "And if, Senators, you have thought me hard and close as to 
salaries and expenditures, 1 trust you will do me the justice to believe that it is 
not from any doubt of the ability of our country to pay, or from a base and 
selfish desire for cheap reputation, or from a disinclination to pay my share, 
but because I see in the dim future of our country the same uneasy struggle 
between capital and labor — between the rich and the poor, between fund holders 
and property-holders — that has marked the history of Great Britain for the last 
fifty years. I do not wish the public debt increased one dollar beyond the 
necessities of the present war; and the only way to prevent this increase is to 
restrict our expenditures to the lowest amount consistent with the public service, 
and to increase our taxes to the highest aggregate our industry will bear." 

Meanwhile it had become apparent that the United States Government must 
furnish some kind of paper money as the basis of its operations. Specie pay- 
ments had been suspended about the first of January, 1862, and the only paper 
money in use was the bills of the local State banks, and the demand notes of 
the Government, which did not enter into the general circulation. Here the 
financial history of the war commenced. Whether the notes to be issued should 
be a legal tender was the pivotal question ; and upon that point Senator Sher- 
man, with Secretary Chase, had a strong and decided conviction that there was 
no safety in the then condition, except in making them a legal tender. Mr. 
Sherman took a very active part in pressing the legal tender clause while it was 
pending in the House ; and when the bill came to the Senate, he was the chief, 
if not the only, advocate of the policy in the Committee on Finance. Mr. Fes- 
senden and Judge Collamer were both opposed to the legal tender clause, and 
there were many warm debates in the committee upon the subject. Mr. Sher- 
man stated his views at length in supporting the bill to authorize the issue of 
United States notes in February, 1SO2, in which he justified the legal tender 
feature on the ground of necessity. "I do believe," said he, "there is a press- 
ing necessity that these demand notes should be made a legal tender, if we want 
to avoid the evils of a depreciated, dishonored paper currency. I do believe 
we have the constitutional power to pass such a provision, and that the public 
safety now demands its exercise." Reviewing the whole financial situation and 
showing the necessity of the measure, Mr. Sherman considered the constitutional 
power of Congress to enact it. " I rest my vote," he said, "upon the proposi- 
tion that this is a necessary and proper measure to furnish a currency — a medium 
of exchange — to enable the Government to borrow money to maintain an army 
and to support a navy. Believing this, I find ample authority to authorize my 
vote. We have been taught by recent fearful experience that delay and doubt 



JOHN SHERMAN'S HEWS ON RECONSTRUCTION. 



=5 



in ihis time of revolutionary activity are stagnation and death. I have sworn 
to raise and support our armies, to provide for and maintain our navy, to 
borrow money to uphold cur Government against all enemies at home and abroad. 
I hat oath is sacred. As a member of this body I am armed with high powers 
for a holy purpose, and I am authorized nay, required to vote for all law- 
necessary and proper for executing these high powers, and for accomplishing 
that purpose. This is not the time when I would limit these power-. Rather 
than yield to revolutionary force, I would use revolutionary force. 
Regarding this great measure a- a necessary and proper one. and within our 
power to enact, 1 see plain before me tin- oath of duty, and one that is easy to 
tread.'' 

Mr. Sherman'- consistency in hi- efforts to reduce the expenditures of Gov- 
ernment was manifested very clearly in the concluding paragraphs of his remarks 
on a hill providing for the "expenses •<( Congress:" •• I will only repeat what 
I have said many times in this Senate, that, under due necessity, we mu-t 
revise the expenses of this Government. I am willing to commence with myself ; 
then to take those around me; and then extend the circle to those that are 
further off, until finally, and a- a last resort, we strike at the army and navy, 
and all the officers engaged in those branches of the public service. 1 care not 
in what form it comes, whether in the shape of a tax. a pro rata reduction, or 
a carefully analyzed deduction. 1 am willing to vote for it. and I am willing to 
commence with myself. - ' 

While he advocated severity toward those who had instigated the rebellion 
and who were its leaders, he was equally disposed to treat with leniency those 
who had been blindly led into the struggle: 

"You mu-t in war," -aid he, "a'dopt the law- and policy of war. I am, 
therefore, in favor of the mosl rigid law of confiscation against the leaders of 
this rebellion; but I would, a- an art ol wisdom, of amnesty, of wise forbear- 
ance and moderation, authorize the President any time to proclaim an amnesty 
to the great masses of the rebels. Against the captains of companies, the mem- 
bers of Congress, the leaders in the rebellion, those who have staked their 
property upon it, men of intelligence and character. I would, without mercy, 
prosecute the laws of confiscation anil war to the furthest extent. Let us adopt 
this police, guided by wise moderation, controlled by a manly earnestness, and 
a determination to stand by each other, .Mid I believe the Republican party will 
not only save the country, but will give it an era of prosperity of which we 
have had no example. If. on the contrary, any useless measures of legislation, 
looking to extreme means, he adopted, prejudicing the great ma-- of the people 
of the Southern State-, destroying their rights as citizens of those States, or 
reducing the States to Territories, it will only exasperate the people «>f those 
States more and more, will make conquest impossible, and a reunion of all the 
States utterly futile. 1 believe that by a wise system we may, one by one. 
gather these' States again into the fold- of the Union; and if the Republican 
party, through its wisdom and ability, -hall carry the country through this 
revolution, I do not fear for the verdict of the popular will. I have heard 
some of mv friends express a doubt, and say, 'let us do this now, because after 
a while we may not have the power.' I will do what I think i- right, and I 
have an abiding confidence in the people of the United Stat.- that they will 
stand by those who follow their convictii ns of duty with moderation and good 
sense." 

In offering a resolution calling for offi ial report- on the battle of Pittsburgh 
Landing, Mr. Sherman paid a glowing tribute to the soldiers from his own 
State, which he closed by saying: '-Sir. I refer to these event-, not with a 
view of disparaging the achievement- ol others, but to secure to the people of 



26 JOHN SHERMAN ON THE PROSECUTION OF THE WAR. 

Ohio the just share of honor to which they are entitled. We ought always to 
regard our State organization with pride. It controls nearly all the relations 
which affect home, family, kindred, property and personal rights. I trust never 
to see the States lose their importance in our system of Government. Although 
rebels have cloaked their treason with the pretense of defending State rights, 
by making the States independent of and superior to the United States, yet we 
ought hot, therefore, to reduce them below their proper position or impair in 
the least the affection due from each citizen to his State. State pride, and State 
rights are perfectly consistent with the higher allegiance we owe to the National 
Government. And, sir, the same sentiment which makes us sensitive for the 
honor of our State will excite us to preserve the honor and just authority of 
the United States. 

"It is this love of nationality, the indefinable" sentiment which animates us at 
the sight of our flag, kindles our blood when the national hymns break upon 
«s, excites the pride and elevates the manhood of the brave and the timid, the 
young and the old alike, that now arms seven hundred thousand men and 
makes twenty millions of people eager to make sacrifices of property and life for 
their country. 

"It is this love of nationality, founded upon the affection of our people for 
both the State and General Governments, that I trust will carry us safely 
through this national trial, and under the blessings of divine Providence, 
speedily bring us a permanent peace upon the true basis, the supremacy of each 
State, and the indivisibility and unity of all the people of the United States in 
one Government, for the purposes prescribed by the Constitution/' 

Mr. Sherman never failed to let an opportunity pass without urging the most 
vigorous prosecution of the war; and early in July, 1S62, while debating a militia 
bill, at that time before the Senate, he advocated the employment of colored men 
as soldiers. lie said : 

"In my judgment, this war will never successfully end until the people of the 
United States are thoroughly alive to the situation and condition of the country. 
By conscription laws the rebels have united the whole physical power of the 
rebel States in their army. They seize all kinds of men — white and black, loyal 
or disloyal — and force them into an involuntary service. Some gentlemen here 
are very much afraid that we will employ black men, and allow them to do loyal 
service. While these gentlemen are continually arraigning the Administration 
and Congress, and all who desire to put down the rebellion, for doing any act 
that would not be justified in time of peace, they never say one word about those 
who are seeking to subvert the Government by means that .we dare not resort to. 
We have heretofore resorted only to volunteers; we have appealed to the patri- 
otic people of the United States to volunteer and engage in this war, and nobly 
have they responded; but, sir, I take it, if it lie necessary in order to subdue 
this rebellion, we will resort to all the power given us by the Constitution of the 
United States. I have no hesitation in saying myself, that rather than see_ this 
country broken up, rather than bequeath to the next generation a broken Union 
and interminable war and anarchy, I would vote for a general conscript bill, and 
I think the necessity now exists for one. I would unite the whole physical 
power of this country, white and black; and if necessary to preserve .the Union, 
would desolate every' rebel State. The object is too great for us to stand upon 
trifles. Wc all know and feel that if this war ends upon the basis of a dissolu- 
tion of the Union, we bequeath to generations yet unborn interminable war. 
You can not have two nations of the same race side by side with each other, with 
a boundary of 2,000 miles, without it. There will be causes of jealousy spring- 
ing up between them that you can not now forsee ; and if you should divide the 
country, or allow these men to divide it, there would soon be internal commo- 
tions in the Southern and in the Northern confederacy. The East and the West 



J0I1X SHERMAN ON THE ISSUE OF U. S. NOTES. 27 

would quarrel. Factions embittered by local interests would destroy all that two 
generations of men have accumulated. To avoid such calamities 1 am willing to 
resort to extraordinary measures, and if the appeals new made I'm- volunteers, if the 
arming of the militia, if the employment of negroes is no! sufficient, then 1 would 
do what every other government has done under like circumstances —what our 
fathers did in the war of jSi 2 — I would, by a fair law, unite and combine 1 
gether, in one great army, the whole physical force of this country'; and, if nec- 
essary, I would desolate every State that stands in the way." 

The summer of 1S62 was a gloomy epoch in the loyal North. McClellan 
had been recalled from the Peninsula. Pope had been driven back from the 
Rapidan; and after an overwhelming series <>f confused and bloody engagements 
forced to seek refuge in the defenses of Washington. In the Southwest the 
Union arms seemed to he in a torpid condition, while the enemy was active and 
aggressive. In that department of the forces in which Ohio was especially 
interested, there were grave delays in the long awaited movement on Chatta- 
nooga; and finally it appeared that Bragg had arrived there before Buell. At 
that critical epoch it was not only necessary for some to organize armies and 
navies, and for others to lead them to victory, hut for the national legislators 
to provide the means for recruiting, equipping, paying and feeding large bodies 
of men; for the purchase of vessels, amis, and ammunition, and for the care of 
the sick and of the wounded; and this had to he done by such legislation as 
would prevent national financial failure. In this legislation Mr. Sherman took 
a prominent part. 

Mr. Sherman's position on the Finance Committee necessarily brought him 
more in contact with Secretary Chase than with any other executive officer of 
the Government. Mr. Chase had been a 1 ree Soiler, and Mr. Sherman a Whig 
and the old divisions of parties still left their impress upon the public men who 
participated in the early life of the Republican party. They were always, 
however, very cordial and intimate; and the Secretary often said to the Senator 
that he rendered him more personal aid in the duties of his office than any one 
else. He freely consulted with hiin ahout all the loans and every measure 
pending in Congress. At Mr. Chase's request Mr. Sherman look charge of the 
national bank bill. His business experience with banks in Ohio led him strongly 
to antagonize the system of Stale banks then existing, and he was very anxious 
to supersede it in some way, but was not entirely satisfied that it was wise 
to organize national banks during the war, believing that the 1 sue of United 
States notes, supported by an issue of bonds, would furnish means enough to 
carry on the operations of the war. \\ soon became apparent, however, that 
the State banks were an obstruction to the national financial operations. They 
issued paper money without regard to the limns prescribed by the State I 
and their notes had a legal circulation which prevented to some extent the use 
of United States notes. Mr. Sherman, a- earl) I 1 tnber, [862, in a reported 

speech, took strong ground against these banks ami introduced and urged their 
abolition by means of taxation. Believing that these banks could only be 
absorbed by the formation of another S) tem of banking, Mr. Sherman finally 
took hold of the national bank bill, which had been recommended by Secretary 
Chase in December, 1861; but which was not supported either by public opinion 
or by any considerable number of members of I 

When Mr. Sherman, at the beginning of the session in December, 1S02, un- 
dertook to perfect the bill. Mr. Fessenden having doubts about it. or being op. 
posed to it, requested him to take charge of it, staling that he did not wish to 



nS JOHN SHERMAN OX TAXATION OF NATIONAL BANKS. 

obstruct the views of Secretary Chase, but that he could not support them. 
The records of the debate show that Mr. Sherman's speech was the only one 
made in favor of the national bank bill, although it was before the Senate off 
and on for ten days. Mr. Sherman feared that it would not pass; but, finally, 
by active exertions and by the earnest, personal appeals of Secretary Chase to 
Senators opposed to it, a majority was secured. It was a close contest, and 
the financial change thus secured was a turning-point in the preservation of the 
National credit, and consequently of the national existence. Mr. Sherman has 
always regarded his speeches on State banks, and on national banks at that 
time, as the most important that he made in the Senate during the war. 

When the national currency act was discussed in the Senate, Mr. Sherman 
took a stand in relation to the taxation of national banks which he has since 
maintained, and which shows how ungrounded are the charges that he has been 
disposed to show undue favoritism to these institutions: "The question of tax- 
ation," said he, "has given me more embarrassment in deciding upon my own 
personal course upon this bill than any other thing connected with it. * 

It is indepensable that these banks should pay not only the expense of their 
management, but should pay a liberal tax to the Government of the United 
States. 1 do not wish to screen them from taxes, however friendly I may be to 
this system. I wish to impose upon them severe burdens of taxation. 

"Yesterday, in discussing this matter, I suggested that the United States tax 
proposed on the banks should be doubled, that the amount of tax on these banks 
levied by the United States should be so heavy that no one could say that 
property employed in national banks paid a less rate of taxation than property 
engaged in other business. 

"There is one general idea that controls my vote on this matter. I do not 
think it is a matter to get excited about. The States are necessary to be sup- 
ported, and the counties and the cities must be maintained; but so must the 
National Government, and the needs of the National Government are now greater 
than those of any portion of the community ; and the only question is, how can 
these governments be sustained without injury to each other, for all must be 
sustained by taxation. The basis of my idea is that certain modes of taxation 
should, by law, be set aside for the United States, as by the Constitution we 
have set aside for national purposes the power to impose duties upon imports. 

It is proposed by this bill, also, to give to the United States Government an- 
other fund, another mode of collecting taxes, and what is it ? The bonds of the 
United States invested in a system of national banks. They are to be reserved 
to the nation as another fund from which the nation alone may draw taxes. Is 
that extraordinary ? The States have, by law, the exclusive power, and they, by 
law, collect exclusive taxes on all the lands and personal property ,of the United 
States, with some small exceptions. Is it unreasonable that the Government of 
the United States should claim as its peculiar source of taxation, first, duties on 
imports; next, indirect internal taxation, and next, a tax on its own securities? 
We now have the power to tax all the bonds of the United States for national 
purposes. The law declares that these bonds shall not be subject to State taxa- 
tion, but it does not relieve them from taxation by the nation. They are moneys 
invested in the securities of the United States, and that fund may be set apart, 
used exclusively by the nation for the support of the Government. Is it unreas- 
onable, when this money is invested in a system of national banks, set aside to 
maintain and build up a national currency upon, to extend this exemption of 
United States stocks when owned by these national banks? 

I do not want the owners of these national banks to escape taxation. I wish 
that distinctly understood. * 

* » « But, sir, I want the tax derived from this source to go 

into the National Treasury, where we need it. No tax can be or has been pro- 



JOHN SHERMAN RE-ELECTED SENATOR. 29 

posed here thai I will not readily vote for. If ii is necessary still further lo tax 
these banks, or if it is necessary still further to tax the national securities, or to 
increase our duties on importations, <>r to increase our internal revenue, I am per- 
fectly willing to share in the responsibility of putting upon our people any bur- 
den of taxation. I believe we can collect one-half >>r even more than one-half 
of our large expenditures by indirect taxation under our revenue law-. All that 
I claim is, that if this system is organized by the National Government, the tax 
imposed upon the property invested in these hanks .shall he set aside as a na- 
tional fund to be used for national purposes." 

During the successive recesses of 1 ongress Mr Sherman made it a point to 
visit the armies of the Union then in the field, lie was on the battleground 
of the Wilderness when General (bant was moving in the summer and fall of 
1864; and when the .Monitor disabled the Merrimae, he went immediately to tin- 
seat of operations, and was on the Monitor the second or third day after the 
battle. In March and April, 1S65, upon the invitation of Secretary Stanton, he, 
together with a number of other Senators, visited Charleston, Hilton Head, and 
Savannah, while General Sherman was marching toward Goldsboro. Later, upon 
(General Sherman's march northward, he returned from Washington with him t<> 
his head-quarters at Goldsboro, and there saw the closing inspection <if his army. 
April, 1S65, is recorded on the pages of history as a month of victory and 
of sorrow to the people of the United State-,. In the earlier days the Confed- 
erate capital was occupied by federal troops, and the military chiefs of the re- 
bellion successively surrendered. A few days later the life of President Lincoln 
was taken by an assassin, and Andrew Johnsoil became President of the United 
States. The great armies of the Republic, whose bravery and fortitude had 
saved its life, and had emancipated an enslaved race, were disbanded, and re- 
turned to the avocations of peace, k has truly been said that no argument in 
favor of free institutions and a Republican form of Government so conclusive 
and potential as this was ever before presented to the judgment of the nations 
of the earth. Resistance to the authority of the United Slates by individual 
States was at an end and .slavery had been abolished. but the position of the 
States recently in rebellion was to he determined, ami the political rights of the 
emancipated race were to be defined. The history of this reconstruction of tin- 
political system of the insurrectionary States on those new conditions which the 
civil war had imposed and rendered neces ary, is a history of earnest struggles 
more or less successful. The Republicans took the ground that justice ami not 
expediency should be the rule in the readjustment of national affairs. 

At Mr. Sherman'- second election as Senator, hi- only competitor was Gen- 
eral Schenck, who had been wounded in the war and had developed a good 
deal of strength ; but he \\ a- nominated on the first ballot and elected. When 
Mr. Fessenden was appointed Secretary of the Treasury, Mr. Sherman became 
Chairman of the Committee on Finance; and after Mr. Fessenden returned to 
the Senate he voluntarily surrendered tin- position to him. 

It soon appeared that there was a wide difference of opinion between the 
Senator from Maine and the Senator from Ohio on the question of refunding 
the debt and providing ways and means lor paying off the floating debt and 
liabilities. Mr. Sherman was very decidedly opposed to the issue of si\ per cent, 
bonds for that purpose, and has never entertained a doubt that if the policy he 
then recommended had been adopted, we could have funded the whole of the 
7-30 notes and the floating indebtedness with a five per cent. bond. 

He took, however, a hopeful view of national finances. " We shall not," 



3 o JOHN SHERMAN ON FUNDING THE DEBT. 

said lie in April, 1866, " have to beg of foreign nations, or even of our own peo- 
ple, money within two or three years. Our national debt will he greatly 
sought for, I have no doubt I take a hopeful view of the future. I do not 
wish now to cripple the industry of the country by adopting the policy of the 
Secretary of the Treasury, as he calls it, of reducing the currency by crippling 
the operations of the Government, when I think that under any probability of 
affairs all this debt will take care of itself. I believe if the Secretary of the 
Treasury would do nothing in the world except sit in his chair, meet the 
accruing indebtedness and issue his Treasury warrants, this debt will take care 
of itself, and will fund itself at four or five per cent, before very long."' 

"Credit." said he, at this time, "is based not only upon a strict compli- 
ance with contracts and ability to perform them, but also upon great care in 
making them. We must have prudence in making a contract, honor in ob- 
serving it, and ability to perform it. These are the elements of public as well 
as private credit. Our history as a nation has shown that we have the means 
and will to fill our contracts ; it is for us to show our prudence in making 
them in the future. In private dealing we will not trust a man who has great 
means and ample property if he is reckless in making engagements ; but we do 
trust the man who has no resources but his prudence and property. As a 
nation we ought not to impair our credit by making engagements more onerous 
than other nations do, unless we are compelled to do so by sheer necessity. 
While we were in war, our Government in discredit, and our people fearing 
the result of the struggle, we were forced by necessity to pay high rates ; but 
to do so now is a confession of weakness that I see no foundation for." 

Mr. Sherman's speeches on funding the national debt, delivered in the Senate 
on the 9th of April and the 22d- of May, 1866, covered the whole ground and 
attracted the attention of the country. "Why," he asked, "enter the money 
market offering usurious interest ? Why pay more than any good merchant in 
New York will pay ? Why traffic our loans, a mortgage on all our industry, on 
terms worse than bankrupt nations of Europe offer? Go, backed by your 
resources, your unclouded and undisputed empire, the love and faith of your people, 
the respect of all nations— go, I say, with all these, and with confidence in 
yourselves, to the people who hold your bonds, and you will be aide to borrow 
money at five percent., yea, before long, at four per cent. Go not to the money- 
changers. If they are allowed to fix the rate of your interest, they will continue 
it as it is with all its exemptions, until the people, fired at an injustice, will do 
wrong to correct it. I conclude as I commenced, that to authorize the Secre- 
tary of the Treasury, in the process of refunding, to issue six per cent, bonds, is 
a political crime. 

Mr. Sherman stood in the Senate almost alone in opposition to the act passed 
in April, 1S66, which was strongly pressed by Secretary McCulloch, authorizing 
the refunding of the floating indebtedness into a six per cent. bond. There are 
reasons for believing now that Mr. Fessenden subsequently became convinced 
that Mr. Sherman was right ; but the differences between them, which devel- 
oped some feeling, together with failing health, caused Mr. Fessenden to decline 
to serve as Chairman of the Committee on Finance, after having served for but 
one session. Mr. Sherman was designated as his successor, and was then identi- 
fied with the various financial measures of Congress. He can fairly claim to have 
been the author, in substance, of the refunding act, and to have taken the most 
prominent part in the different financial measures that became laws. 



JOHN SHERMAN ON THE TAR/FF. 31 

While Mr. Sherman was earnest in advocating refunding policy looking to the 
lowering of the rate of interest on the debt, and to the resumption <>f specie 
payments, it was almost impossible to bring about a concurrence of opinion in 
either party. A refunding act had, in substance, been introduced by him as 
early as 1867, but it was not adopted until 1S70, substantially as he had pro- 
posed it, but without the features li.. >k in^ i" the resumption of specie payments 
which lie had advocated. The temper of the public was entirely against the 
adoption of such measures. Prior to the panic <>f 1873, he had repeatedly intro- 
duced and urged measures lucking to a coin standard, and at one time a bill 
authorizing the conversion of United State- note- into bonds passed the Senate, but 
was defeated in the House. 

In supporting the tariff of 1867, Mr. Sherman carried out the opinions which 
have already been quoted. He has ever believed iii the doctrine of protection 
for a new country like ours, and sustained bills looking to large collections of 
duties on imported goods, and to the rapid repeal of all internal taxes. " Every 
hour of domestic labor," said he, " contributes some portion of its product to the 
wants of tlie nation. Under these circumstances it is the plainest principle of 
political economy that we should so frame our tariff laws as to produce the 

largest possible income from imported g Is. Revenue is the first, highest ami 

most pressing want, and it must be so levied as to do the least harm to our in- 
dustry. It is in the application of this principle that all the difficulty in framing 
a tariff law exists. This can not be done by applying any general rate or rule to 
all articles. We must discriminate between articles of luxury and articles of neces- 
sity ; between articles that may be produced in our country, and articles mainly 
produced abroad; between raw materials necessary to domestic manufacture, and 
completed products of industry. The rate of duty must be modified by a multi- 
tude of circumstances, as varied as human knowledge and with details far more 
difficult than any subject of legislation." 

While Mr. Sherman favored the imposition of duties on imported articles, he 
was largely instrumental in framing and passing the several acts repealing inter- 
nal revenue taxes, and reducing them to their present low rate on whisky, 
tobacco, beer, and a few stamp duties. •During the war," said Mr. Sherman, 
"these duties on imports were increased to counterbalance the internal taxes 
levied upon domestic productions. With few exceptions the last shred of these 
internal taxes will now be repealed, and our manufacturers . n compete with 
their foreign rivals with no disadvantage but higher-pri . which i- met 

by an average duty on the whole list of fifty per cent. * In a con- 

troversy like this, between opposing th ries, the highest wisdom often lies 
between them. While protecting home industry we ought not in any case to 
levy a duty so high as to exclude the foreign fabric, but only such as will 
.secure fair but not excessive wages, and as will induce a competition between 
the foreign and domestic fabric that si the customer the lowest 

prices consistent with the maintenance in our country of all the industries for 
which we have equal natural facilities. We mibt not compel our laborers to 
compete with the poorly paid labor of 1 ul we ought not by our pro- 

tection laws to secure to them higher wages than can be earned in kindred 
employments.' 

At the time of the Credit Mobilier investigation all sorts of charges were 
made against almost every man in pub;- life. The air was full of calumny. 
Up to that time no imputation had ever been cast upon Mr. Sherman of personal 



32 JOHN SHERMAN REPLIES TO ACCUSATIONS. 

connection with anything improper or wrong. He was then severely attacked 
by the Cincinnati Enquirer and other Democratic papers in Ohio, because it was 
said that he amassed great wealth out of the war, and therefore must have 
made it improperly. Mr. Sherman met these charges on the threshold by 
writing two letters, one of which was written to the Cincinnati Enquirer and the 
other to Judge Welcker of Ohio. 

These letters stated the exact facts and Mr. Sherman's defiant attitude toward 
all similar accusations. No man can say, therefore, that Mr. Sherman ever in 
the slightest degree received any benefit from the Government in any business 
operation connected with the Government, except the salary given him by law. 
It is a matter of public notoriety that no one could have been more stringent 
in severing his connection with any transaction which by possibility could affect 
the Government, or could be affected by pending legislation of Congress. He 
even carried this position to an extreme, and never bought, or sold, or dealt in 
any stock, bond, or security, or business which could be affected by his action in 
Congress. The letters mentioned above promptly squelched these accusations at the 
time, for they were sustained by voluntary declarations made by prominent 
Democrats, especially in Ohio; but the poison of the undefined accusation still 
continued, and they are occasionally referred to, although not in the way of a 
charge, but rather an imputation founded upon false estimates of his property. 

The panic of 1873 created a profound impression, and led to a debate that 
continued for six months, but no agreement was possible, and both parties were 
about evenly divided. This had a very injurious effect upon the fall elections 
in 1874, and every one was impressed with the importance of a definite financial 
policy. At the first caucus held in December, 1874, Mr. Sherman offered a 
resolution appointing a Republican committee with a view to bring about a 
concurrence of opinion. It was adopted, and a committee of nine members, of 
which he was chairman, was appointed, composed nearly equally of those who 
were clashed as inflationists and contractionists ; but by some yielding on both 
sides the resumption act was adopted by that committee as a compromise 
measure. There was nothing in the bill but what had been proposed on one 
side or the other in the previous debates ; but the effective section which lived 
the day of resumption and gave to the Secretary of the Treasury power to bring 
it about was agreed upon, but for opposite reasons. The members of the com- 
mittee had been so committed by previous opinions that, while they could agree 
upon the measure, they could not agree upon the reasons for it, and it would 
not have stood the test of debate. It was distinctly said that if one side stated 
their views of the defects of the measure the other would not vote for it, and 
thus it would be defeated. The Democratic party, as purely a party of oppo- 
sition, would vote against any measure supported by the Republicans, and, 
therefore, it was necessary for the latter to act together. This necessity of con- 
currence was all that secured an agreement upon the bill ; and it was reported 
to the caucus and to the Senate with the distinct understanding that there 
should be no debate on the side of the Republicans, but that Mr. Sherman, 
without committing any one, should be left to manage it according to his own 
discretion. This timidity on the part of the friends of the bill, naturally weak- 
ened it before the country, for the newspapers and the public discussed it; and, 
though it was in the main a wise measure, it was denounced by both parties 
as a surrender, and was not satisfactory to the general public. Its execution 
depended entirely upon the will of the Secretary of the Treasury for the time 
bein£r. 



jof/x .sV/A'A'.i/./.v.v FINANCIAL C0NF1D&NC& 33 

Meanwhile, Mr. Sherman was elected to the United States Senate for a third 
time. There was no opposition to Imu developed in the Republican party, and 
he received an almost unanimous nomination; but this was at the beginning of 
the formation of independent parties prior to the Presidential election of 1872, 
and there was much fear that enough members could be concentrated upon 
some third candidate to defeat him after he had received the nomination. A 
spirited effort was made to concentrate the opposition on an independent candi- 
date, to be voted fur by the Democrats, but it failed; and in January, 1872, he 
was elected by a strict party vote. 

The sinking fund laws were regarded by Mr. Sherman as inviolable. " Sir," 
said he in March, 1875, "pledges of public faith must be observed literally 
and truly, and I am very glad the Secretary of the Treasury has taken the 
position that whatever else comes the sinking fund shall be maintained. Indeed, 
the law in regard to the sinking fund i^ so clear and so strong, that a Secretary 
of the Treasury who would violate that law would clearly be subject to, and 
ought to be, impeached. That law is an element of the public credit and must 
not be impaired." 

Throughout the long financial discussions that paved the way to specie pay- 
ments, and during the dark period of commercial adversity that followed the 
return of peace, Mr. Sherman never lost courage. «' Sir," he said in January, 
1876, "we ought to take a hopeful view of things in this centennial year of 
our great country. Look at the aggregate of results: A century ago we were 
3,000,000, now 40,000,000; then, we had a little border on the Atlantic ; we are 
now extended to the Pacific. See what has been accomplished in a hundred 
years: During that time there have been periods of darkness and doubt. Every 
seven, or ten, or twelve years, periodically, there have been times of financial dis- 
tress. We have lived through them all, I believe, and I trust in God that this 
very year is the beginning of another period of prosperity, and that all these 
dark clouds which gentlemen are trying to raise up from the misery of the past 
two or three years and from their own clouded imaginations, will entirely disap- 
pear. I believe that even now we are in the sunshine of increasing prosperity, 
and that every day and every hour will add to our wealth and relieve us from 
our distresses." 

In the political campaign of 1876, Mr. Sherman made an able speech at Ma- 
rietta, Ohio, which did much to in>piie the Republicans with confidence, anil 
which supplied their speakers and editors everywhere with a magazine of facts 
and figures. In conclusion he urged his Republican friends to enter the contest 
with a firm confidence that the people would do what was best: 

"Let us," he said, "again gather around the Republican party, proud of all 
the good it has done, anxious to repair its errors, determined to advance its 
standard, to keep fully abreast of the holiest, noblest and highest purposes of out- 
age, to crown the full measure of our faith by protecting all men in equal rights, 
by redeeming all pledges of the public faith, and by securing all reforms attaina- 
ble by poor human nature. 

President Hayes was inaugurated on the 4th of March, 1S77, and, in selecting 
his Cabinet, appointed Mr. Sherman Si cretary of the Treasury. The transfer of 
Mr. Sherman from the Finance Committee of the Senate to the Treasury Depart- 
ment was regarded with great satisfaction by all who were in favor of refunding 
the public debt into bonds bearing a low rate of interest, and by all who desired 
the success of specie resumption in 1879. His large experience in the Senate 



34 JOHN SHERMAN SECRETARY OF THE TREASURY. 

Finance Committee ; his thorough familiarity with all financial legislation and 
with the business condition and financial needs of the country at that time, and 
his extensive knowledge of the monetary systems and policies of other countries, 
all gave assurance that his administration of the Treasury would be successful. 

During the exciting contest over the Presidential dispute, which had just hap- 
pily closed, the distrust and doubt which had been created in our political 
affairs had caused such a depression in the public securities that the sale of bonds 
for refunding was very limited. 

On taking the office of the Secretary of the Treasury, Mr. Sherman found in 
existence a contract between the Government and a number of associated bankers 
in this country and Europe for the sale of $300,000,000 of 4^ per cent, bonds for 
refunding purposes. This contract had existed since August 12th of the previous 
year, and under it about $90,000,000 had then been sold. 

The peaceable solution of the political difficulties, however, had removed 
the distrust and doubt to a certain extent, and the sales under this contract 
began to be made with considerable rapidity. 

Mr. Sherman found there were of redeemable bonds, bearing a rate of interest 
of five and six per cent., about seven hundred millions; and sound statesmanship 
demanded that they should be replaced as soon as practiceable by bonds bearing 
a lower rate of interest. 

To his views on this matter there was no opposition from any source. Mr. 
Sherman also found that under the resumption act, which had then been in 
existence more than two years, no steps had been taken with a view to the 
resumption of specie payments by the Government, required by the terms of 
that act to take place on January 1st, 1879. 

In the sufficiency of this act to bring about resumption Mr. Sherman had 
great faith. He had carried it through the Senate; he had fought against its 
repeal; and he had tried in every way to popularize it with the people, and 
convince them of its sufficiency and power to bring the country out of the 
financial distress in which it had been plunged since the panic of 1873. 

To his views on this matter great opposition sprang up; but so long as the 
law remained on the statute book there was no alternative for Mr. Sherman, 
even if he had desired it, except to see that the provisions of the law were 
enforced. So, on April 6th, when he had been Secretary but a few days, he 
addressed a letter to Messrs. Rothschild & Sons, of the associated bankers, 
with whom the Government had the contract for placing the 4j4 per cent, 
bonds, in which letter he stated that when their sales reached $200,000,000, he 
proposed to withdraw them from the market, and that he desired to sell, for 
refunding purposes, the four per cent, bond ; and he invited their aid in this 
policy. He also stated that he was authorized to sell, for resumption purposes, 
bonds similar to those sold for refunding, and that he desired to do so at the 
rate of thirty millions a year. 

At the time that letter was written the \]/ z per cent, bonds were below par 
in Europe, and were but very little above par at home. But the boldness of 
the policy which was here outlined, showing the firm faith which Mr. Sherman 
had in the credit of the country and in his ability to secure a lower rate of 
interest, gave great confidence to the bankers and business men, and caused 
such a rise in the 4^ per cent, bonds, that he was enabled to sell immediately 
two millions for refunding purposes; and before the 1st of July the whole two 
hundred millions were taken, of which fifteen millions were applied to resump- 
tion purposes. 



JOHX SHERMAN ADVOi A TES RESl 'MPTH 'X. 



35 



Such was the success of this policy, that Mr. Sherman was enabled on the 
9th of June to obtain a contract for the sale, firm, of twenty-five millions four 
per cent, bonds at par, of which five millions could be applied to resumption 
purposes with a provision, also, that the loan should be open to public sub- 
scription for a period of one month. Thus, in less than six months, Mr. Sher- 
man had been enabled so to raise the credit of the country that he was enabled 
to sell four per cent, bonds at par, and also to exact of the bankers who took 
the loan a condition that they should open it to the public, in order that all 
might share in the benefits likely t,, accrue from the purchases; and he had 
meanwhile secured at least S.:o,ooo,ooo for resumption purposes. 

Books for subscription to tin. loan were opened throughout the country 
immediately. An enthusiasm in behalf of the loan was raised which reminded 
one of the patriotic impulses that thrilled the heart of the North in the time of 
the war. To the surprise of every one, before the close of the thirty days 
during which the loan was opened to the public at large, more than seventy- 
five millions of bonds had been sold, ol which twenty-five millions were reserved 
for resumption purposes. 

About the time this transaction was completed, ^rcss convened in special 

session. Among its first measures was the introduction, on one day, of no 
no fewer than thirteen bills to repeal the resumption act; and a bill' for this 
purpose passed the House on the 23d of the following month. Bills were also 
introduced, almost without number, to restore the unlimited coinage of the 
silver dollar,-^ then worth about eighty-five cents in gold. The agitation of 
these two measures so alarmed investors that subscriptions for the four per cent. 
bonds immediately ceased ; and, despite every effort of Mr. Sherman, neither 
bankers nor other individuals could be induced to take the loan; which had 
then fallen two or three per cent, below par : and it seemed for a while as if a call 
for six per cent, bonds, which had been made in advance, anticipating the sale 
of fours, would have to be paid from tlu cash in the Treasury, and as if the hope 
of selling any more four per cent, bonds tor refunding, 01 of successfully resuming 
specie payments, would have to be abandoned. 

Further discussion of these measures, however, seemed to indicate that there 
was not sufficient strength in Congress to pass the silver bill unmodified, or to 
repeal the resumption act, at all event- over the veto of the President which 
it was believed, would be immediately interposed. Consequently, in January 
the alarm concerning the public credil somewhat abate. 1. On the loth of that 
month Mr. Sherman, having concluded all contracts for the sale of fours, gave 
notice that he would receive subscriptions from the public at large for the sale 
of these bonds; and he immediately brought to bear all resources and expedi- 
ents within his power to popularize them and facilitate their sale. A poster 
advertising the loan, «.b sent to ever) postmaster, banker, and business firm 
in the country. On the 2N1I1 of February, the bill authorizing the coinage ot 
the silver dollar became a law over the veto ,,( the President; but it was 
shorn largely of its power for evil 1\ authorizing the coinage only upon Gov- 
ernmental account, the Government securing the difference between the bullion 
value of the -old and silver dollar. This would, for a time, render the coinage 
harmless; and there w a- a general belief that before any evil effects should flow 
from it, the bill might be repealed, so modified a- to prevent injury in the 

future. Consequently, subscriptions began again to be received; but Congress 
still agitated the repeal of the resumption act, and the doubt and distrust 



36 JOHX SHERMAN'S SUCCESS IX PLACIXG BOXDS. 

arising from this agitation kept the credit of the country at such a low ebb 
that the sale of the four per cent, bonds could be made only with difficulty. 

On March the 19th, Mr. Sherman was required to appear before the Finance 
Committee of the Senate, where he was sharply questioned as to the condi- 
tion of the Treasury, the action he had already taken, and the action that he 
proposed in regard to securing a fund for the redemption of the legal tender 
notes. His answers were so ready and satisfactory, and he showed such inti- 
mate knowledge of the matter in all particulars, that very little comfort was 
given to the agitators for the repeal. Following this, on April 1st, he was 
summoned before the Committee on Banking and Currency of the House, and 
there subjected to a searching inquiry concerning the whole matter. The ablest 
and most sincere of the men who had advocated inflation, and who believed re- 
sumption neither practicable nor wise, were in this committee, and they spared 
no effort and lost no opportunity to secure from Mr. Sherman a thorough and 
complete statement of his efforts and purposes concerning resumption. Mr. 
Sherman clearly showed to them the existing condition of the Treasury, and 
did not hesitate to say that he proposed to increase the coin reserve by the sale 
of bonds of some description or other, as authorized by law, to the amount of 
$50,000,000. He assured them that he could do it, and that the gold could be 
obtained and placed in the Treasury before the period fixed for resumption in 
specie to take effect. He also demonstrated to them that with the fifty millions 
added to the amount already accumulated, the Treasury would be stronger than 
was the Bank of England when it resumed in 1819, or had been since, although 
that bank had meanwhile maintained resumption ; that it would be stronger in 
its reserves than either the Bank of France or the Imperial Bank of Germany; 
and the statements he presented, with the reasons given, were so explicit and 
satisfactory that they cleared away all doubts in the minds of those who favored 
resumption, and completely discomfitted the opponents of that measure. From 
the publication of the proceedings of that day the friends of resumption had 
no good reason to be discouraged 

Following up the policy which he had indicated in these conferences, Mr. 
Sherman, four days later, invited several bankers and prominent men in New 
York to meet him in that city for the purpose of negotiating a sale of bonds for 
resumption purposes. It was the unanimous opinion of all the 'bankers present 
that no sale of four per cent, bonds for this purpose could be effected, and that it 
was useless to consider any such proposition. A representative of the national 
banks stated that he thought an arrangement could be made by which the banks 
might take fifty millions of 4^ per cent, bonds, to be paid for on the 1st of Janu- 
ary, the Government to receive whatever the banks could get for the bonds ; but 
they would give no guarantee that they would sell a single bond. Mr. Sherman 
replied that he had gone over there to sell fifty millions of bonds for resumption 
purposes, and that he proposed to do it ; and, further, that if he could not sell 
the bonds to them he would try to get on without their help. 

Receiving no better offer from the national banks, Mr. Sherman invited the 
members of the Rothschild syndicate to make an offer. He received from them 
a proposition to take fifty millions of the bonds at iooj^ ; and this, receiving the 
approval of the President, was accepted; the representatives of the national banks 
recommending its acceptance most decidedly, as being better terms than they 
could offer. 

The ability of the contracting parties t,o place the coin in the Treasury, as 



JOHN SHERMAN AND THE LOUISIANA COUNT. 37 

proposed, could not be doubted ; and from that day resumption was assured. 
Further efforts to repeal the law were abandoned, and the business of the country 
commenced to adjust itself on the assured basis of specie payments on and after 
January 1st, 1879. 

Meanwhile, the enemies of Mr. Sherman had not been idle. Failing to dis- 
courage him in his effort to prepare the Treasury for resumption, and having, 
without effect, attributed to him the cause of every business disaster which oc- 
curred that year, they set out to implicate him in questionable transactions during 
the count of the Presidential vote in Louisiana. A committee of investigation 
was appointed by the House, and it is supposed that this committee, in some 
way, came in possession of what purported to be a letter from Mr. Sherman to 
two supervisors of elections in Louisiana, promising them, in case they stood by 
their returns and affidavits, that the coming Administration would see them suita- 
bly provided for outside of the State. Unless those affidavits and returns were 
known by Mr. Sherman to be false, there was nothing in the letter which he 
could wish to disown. The supervisors stood by their records, and soon after 
returning to their homes one of them was shot at midnight from the court-house 
of his own parish. A promise to provide for political friends for doing their duty 
in such a lawless society could hardly be considered an offense. But the alleged 
letter was never produced, nor was its identity ever established by any reputable 
witness ; Mr. Sherman himself positively denied writing the letter, though unable 
to see any great harm in it, even if he had done so ; and the committee, finding no 
evidence in any way implicating him, abandoned this line of investigation. This 
prosecution did not divert him from his financial schemes. 

This successful sale of 4^ percent, bonds for resumption clearly evinced faith 
in the credit of this country by shrewd bankers at home and in Europe, and this 
faith extended more and more throughout the entire Union. The bonds rapidly 
rose in value, carrying with them all other United States securities, and drawing 
up from behind them the four per cents," the sale of which had been very languid 
for several months. The sale of the latter bonds in open market was continued 
with more or less success during the remainder of the year. 

Meanwhile the gold received for resumption accumulated in the Treasury; but 
the changing condition of the country and of the Treasury required much fore- 
sight, effort and good judgment on the part of Mr. Sherman to prevent any dis- 
order in business or entanglements in public accounts. Every step that the laws 
would permit was taken to preserve intact, so far as possible, the resumption 
fund. On the 1st of January, about #25, 000,000 of interest on the public debt, pay- 
able in gold coin, would fall due. The law having required the reserve fund to be 
kept in New York, Mr. Sherman determined that the payment of coin on account of 
interest should thereafter be also made only in that city ; but permission was given 
the Sub-Treasury officers to pay the interest in legal-tender notes to parties who 
were willing to accept them. Arrangements were made with the several assay 
offices by which gold could be purchased for legal-tender notes ; thus feeding the 
Treasury, to a certain extent, with gold bullion. 

But the most important precaution that was taken to prevent any run upon the 
resumption fund was the arrangement by which the Government, to a certain 
extent, and for certain purposes, became a member of the New York Clearing House 
Association. Under this arrangement, in consideration of the Government's 
receiving and collecting its checks through the Clearing House, that body agreed to 
receive all balances due it at the counter of the Sub-Treasury, and to accept, in pay- 



3 8 JOHN SHERMAN SECURES RESUMPTION. 

ment of Government checks or drafts of all descriptions, legal-tender notes. As all 
the interest checks and checks issued in payment of called bonds were, by law, 
payable in coin, this agreement on the part of the Clearing House, through 
which nearly all the checks passed, relieved the Treasury almost entirely from the 
necessity of making coin payments. 

This necessity having been removed, there was no longer any particular reason 
for requiring the duties to be paid in coin, as required by law ; and as after the 
1st of January it was fair to presume that no distinction should be made between 
the several kinds of money in circulation, Mr. Sherman announced that after 
that period legal-tender notes would be received in payment of duty and redeemed 
at New York on Government account whenever it became necessary to do so. 

instructions were also given the Treasury, and other officers of the Depart- 
ment, to close up in their accounts all distinctions between coin and currency, 
and after January to recognize in the accounts, as well as in the money, that 
the Government had resumed specie payments, and that no difference in values 
existed between the several kinds of money in circulation. 

Having done this, having taken every precaution which human foresight 
could suggest to fortify the resumption reserve, and having pre-arranged the 
business of the Government so that it could easily glide into a coin channel, Mr. 
Sherman awaited the result, not without some anxiety, lest, after all the pains 
taken, the effort should prove futile and resumption a failure. 

The 1st of January, however, came; the New York Sub-Treasury opened, 
but no one appeared to demand coin for his legal-tender notes. The celebrated 
financier, who, a few months before, had said that he would give $50,000 to be 
at the head of the line on that New Years' day, could have had the whole line 
to himself for nothing. Later in the day a few stragglers asked for coin, but 
many more brought coin, or coin obligations, and asked to have them paid in 
legal-tender notes; so that at the close of the day the Government actually held 
more coin than it did in the morning ; and this increase of the coin reserve at 
the expense of the currency in the Treasury has increased from day to day ever 

since. 

The triumph of this policy of resumption was complete and satisfactory. In 
its success was found an answer to all the prophecies of evil and a complete 
vindication of the superior judgment of Mr. Sherman. The confident prediction 
that resumption would bring financial ruin proved false, for with every step taken 
to that end business had improved and failures become less frequent. Those who 
think that resumption came of itself are not those who were intimately associated 
with Mr. Sherman and conversant with the difficulties that he had to overcome, 
the interests he had to conciliate, and the political opposition he met even within 
his own party, where it was not good policy to have contention. The Board of 
Trade in New York recognized his services in this achievement by authorizing 
his portrait to be hung upon the walls of their building, a compliment which 
had been bestowed upon no financier since the days of Alexander Hamilton. 

It must be remembered that in making out and pursuing a line of resump- 
tion, Mr. Sherman was obliged to travel a new path, with no precedents of the 
past to guide him. 

Heretofore, when the country had been through an era of depreciated paper, 
it was only depreciated bank paper, with the redemption of which the Govern- 
ment had nothing to do, the effort of getting back to specie payments being left 
for business men and bankers. But in this case the Government was obliged to 



JOHX SIIKRMAX Kl-.EEXDS THE DEBT. 39 

provide for the redemption in coin of nearly three hundred and fifty millions of 
its notes; and the success of any policy under which this could be done depended 
entirely upon the skill, the energy and good judgment of the Secretary of the 
Treasury, and no amount of equivocation, or of attributing success to good crops, 
or to our unexampled exportation of manufactured goods, ever can or should . 
divert from Mr Sherman the praise that is due him for the manly courage and 
great sagacity with which all his efforts were carried to success. 

But while the country was standing on tiptoe, awaiting the result of the 
resumption policy, Mr. Sherman had not for a moment abated his efforts iu 
refunding ; and on the first day of January, the day on which* resumption went 
into effect, he issued a circular, again offering to the public the four per cents, 
offering to receive subscriptions at all the Sub-Treasury offices, and inviting all 
the national banks to become depositaries for this purpose, and all the banks 
and bankers to aid him in their sale. The premium on gold having disappeared 
with resumption, American investors could now purchase four per cents without 
the loss of the premium which they had heretofore suffered ; and the grand 
triumph of resumption brought the credit of the country to such a condition 
that the sale of four per cents during the month of January were more than 
a hundred and fifty millions, against twenty-five millions during the preceding 
month. Many national banks, which had heretofore stood aloof and rendered no 
aid in placing the loan, came forward and asked to be designated as deposita- 
ries, also invited and urged their customers to subscribe, and the loan thus became 
distributed among small investors throughout the whole country. To secure 
such a distribution of the loan had always been the purpose of Mr. Sherman; 
and with that purpose in view he had, as soon as it was practicable to do so, 
dispensed with the services of a syndicate and thrown open to all banks upon 
the same terms the privilege of taking this loan. It should be stated, however, 
that the immense sales of these bonds, requiring the calling in of an equal 
amount of outstanding six per cents, many of which were held in Europe, 
whither coin had to be shipped for their payment, were beginning to cause 
some disturbance in the exchanges of the country and to unsettle business. 

To obviate this difficulty, Mr. Sherman concluded a contract on the 21st of 
January with an European syndicate, by which five millions a month would be 
taken in England, that being deemed sufficient to prevent the shipment of gold 
to this country to pay for the called bond-; and this policy proved to be sound. « 
So rapid had become the sale of the bonds, that, on March 4th, Mr. Sherman 
announced that when enough four per cents had been sold to redeem the out- 
standing uncalled six per cent, bonds (then about ninety millions), future sales 
would be probably made upon terms less favorable to' purchasers than those 
offered in his circular of January 1st, 1S79. 

■ Owing to apprehensions that the settlements for the bonds sold in Tanuary, 
which would become due in April, might cause embarrassment in the money 
market, the sale of the bonds in March largely fell off, and the market value 
of the four per cents considerably depreciated ; so much so, that the European 
syndicate, on the 28th of March, asked for an extension of the time in which 
they should take the next allotment of bonds, and this extension was granted 
for a few days. 

The facilities for the settlement for the bonds had, however, been so perfected 
that the settlements were made without any disturbance in the money market. 
Thus assured, the market stiffened, and on the 1st of April subscriptions again 
began to increase, and the value of the bonds to appreciate. 



40 JOHN SHERMAN ADVANCES THE PRICE OP PONDS. 

Oh the 4th of that month, while Mr. Sherman was at a Cabinet meeting, 
a dispatch was received from the National Bank of Commerce, New York, sub- 
scribing for forty million dollars of the bonds. The dispatch was immediately sent 
to him ; but the amount was so large that, before taking any action, he required 
a repetition of the dispatch. With the repetition came a subscription from 
another bank of ten millions, another one of two millions, two more of twenty- 
five millions, and another of thirty millions. Sixty millions were accepted, and 
sixty millions more rejected as having come too late. 

The foresight of Mr. Sherman, in announcing that when the six per cents 
had all been called, terms more favorable to the Government would then be 
required in the sales of additional four per cents, was clearly shown, and, as 
subsequent events proved, was of great value to the Government. Not only had 
Mr. Sherman been pushing the sale of the four per cent, bonds, but he had, 
meanwhile, been setting on foot other schemes for securing the refunding of the 
public debt. In his annual report of December, 1878, he recommended to Con- 
gress that authority be granted to issue certificates of the denomination of ten 
dollars, which should be convertible by the Treasurer at any time into four per 
cent, bonds. He believed that in this way a further distribution of the loan 
among small holders would be accomplished. Congress, in February, 1879, in 
compliance with his recommendation, authorized the issue of such certificates, 
and, on the 12th of the following month, Mr. Sherman was able to announce 
that the certificates in question had been prepared, and that subscriptions for 
them would be received. All possible means were taken to popularize and dis- 
tribute these certificates, but the depreciation of the bonds into which they were 
convertible during that month prevented the sale of them as rapidly as could be 
wished. But when enough certificates and bonds had been sold to cover the 
outstanding six per cents, their sale was suspended, together with the sale of 
the bonds, as provided by the announcement of March 4. Immediately upon 
the suspension of the sale of the certificates and bonds as here stated, Mr. 
Sherman began to consider in what way he could best advance the price of the 
bonds, and to what extent he could do so without wholly checking their sale. 
The large subscriptions of the first four days of the month induced him to be- 
lieve that the bonds could be sold slightly above par, and with less commission 
to the purchasers. Upon consulting, however, with prominent financial men in 
New York, with members of both Houses of Congress, and with the Cabinet, 
he received but little encouragement in his declared purpose to advance the 
price of the bonds. It was generally thought that the sale of four per cents at 
par was as low as could be expected in this country, and that the Secretary had 
better " let well enough alone," and secure, while it was possible, the advan- 
tages which would accrue from placing them at par. Mr. Sherman, however, 
firmly believed that an advance should be made ; and, accordingly, on April 
16th, he offered to the public one hundred and fifty millions of the four per 
cent, loan, at a premium of one-half of one per cent, above par, and, in addi- 
tion thereto, abount forty-five millions of the refunding certificates ; the pro- 
ceeds of the whole being deemed sufficient to redeem the outstanding ten-forty 
bonds, which were all the bonds redeemable at that time. 

This step of advancing the price of the bonds in opposition to the judgment 
of so many men, eminent men, was not taken without some hesitancy and doubt 
as to the result ; and the country could well have justified Mr. Sherman in con- 
fining himself to the successful policy heretofore pursued of selling them at par. 



JOHN SHERMAN'S GREAT SUCCESS WITH THE LOAN. 4: 

-V step of this kind once taken can not be retracted ; and a failure to sell 
the bonds at an advanced price could only have resulted in a diminution of the 
prestige of Mr. Sherman as a financier, and in the embarrassment of the refund- 
ing operations of the Government. Due regard was paid to these considera- 
tions, but the announcement was issued and given to the press by noon of the 
16th. To the gratification of Mr. Sherman, and somewhat to his surprise, before 
the close of business that day. a subscription for two millions of bonds on the 
terms just prescribed was received, and it began to look as if the whole loan 
might be taken at once. 

The next morning, however, came without additional subscriptions; but later 
in the day came a subscription from New York for ten million dollars, which 
was followed by others, for one million, two millions, and four millions, respect- 
ively, and others for still smaller amounts. Just before the close of business on 
that day, a subscription was received from the first National Bank of New- 
York, representing a large number of private bankers in that city, for the entire 
amount of bonds offered and forty millions of the refunding certificates. Thus 
the whole loan was sold in one day, and seventy-five millions of additional sub- 
scriptions, coming too late, were declined. 

Is it any wonder that Mr. Sherman telegraphed to New York that night that 
the subscriptions staggered him, and he would like to know if they were all 
crazy ? 

The subscriptions for the forty millions of certificates was absolutely rejected, 
however, Mr. Sherman desiring that a further effort be made to place these cer- 
tificates directly among the people. 

The sale of all the four per cents offered being concluded, no further refund- 
ing operation could be carried on, except the sale of the certificates; and, feeling 
assured that these could be sold, a call was made for the entire outstanding ten- 
forty loan. 

Under the terms of the act authorizing the issue of the certificates, the latter 
could only be exchanged at par for lawful money. This restriction could not 
be overcome, and so the certificates had to be issued at par, although the bonds 
into which they were convertible had been sold, and were selling at an advance. 

This condition of affairs rendered the certificates extremely desirable, and 
schemes were set on foot by bankers, brokers and interested parties, to secure 
these certificates for immediate conversion into four per cents. Every possible 
precaution was taken against such combinations. Postmasters of money order 
offices, and all other officers of the Government, were requested to bond and 
apply for these certificates ; and nearl) seven hundred complied. The certificates 
were, in this way, sent into almost every State and Territory of the Union for 
distribution. About forty millions of them were thus sold, and the money 
returned to the Treasury without loss or embarrassment. With this transaction, 
Mr. Sherman concluded the refunding operations. 

During his two years at the head of the Treasury Department he has refunded 
nearly eight hundred and fifty millions of the public debt, making a saving in 
annual interest of nearly $15,000,000 per annum. 

While engaged in the gnat work of securing the resumption of specie payments, 
and of refunding the national debt at the lowest possible rate of interest, Secretary 
Sherman has administered the multifarious duties of the Treasury Department with 
great executive ability, decision and promptness. Each official has been held 
strictly responsible for his own acts and for the acts of his subordinates, and the 



42 JOHN SHERMAN'S PUBLIC LIFE. 

same economy has been introduced and enforced that should characterize a well 
managed private mercantile or manufacturing establishment. While conferring 
with the bankers of New York who represent the financial magnates of the world, 
or answering the varied inquiries concerning the monetary affairs of the General 
Government propounded by Congressional committees, Secretary Sherman has care- 
fully watched over the national loans, the collection of customs, the national bank- 
ing system, (lie collection of internal revenue duties, the disbursements of public 
moneys, the printing of notes and bonds, the light-houses on the coast and the 
lakes, the coast surveys, the revenue marine, the life-saving service, the national 
mint, and the other subdivisions of the Treasury Department. In each one of 
these branches of the public service, several of which extend over the whole Union, 
retrenchment and reform has been prosecuted, — supernumaries have been weeded 
out, the claims of rival candidates for promotion or appointment have been care- 
fully weighed, and the working of the Treasury Department as an important branch 
of the National Government have been simplified, reformed and perfected. 



Such are the prominent events in the life of John Sherman — a life which rep- 
resents the growth and the capacities of man, under the free institutions of this 
Republic. From the school-room to the court-house, the Capital, and the 
Treasury Department, he has done his duty with ability and with fidelity. Self- 
reliant, he has risen by the firmness of his character and the brilliancy of his 
intellect to the high position first graced by Hamilton. An accomplished scholar, 
a learned lawyer, a fearless and enlightened legislator, a far-seeing and upright 
member of the Cabinet, an honorable gentleman in private life, and a confiding 
friend, he has ever been noted for his comprehensive intellect, his conscientious 
integrity, and his adherence to those conservative and constitutional principles of 
Government, which secure to every citizen his rights, and to every section its 
equal consideration under the administration of just laws. The dark corruptions of 
the war-epoch have never clouded his reputation, nor has any tongue ever ventured 
to impeach his honor, for his life has been pure and unsullied, while it has been 
brilliant and useful. 

Mr. Sherman is now in the prime of manhood— tall, firmly built, yet graceful 
in his movements, and capable of great endurance. His features are expressive, 
and there is a good-humored twinkle in his bluish gray eyes, while his forehead 
and the lower portion of his face indicate positive determination and adherence. 
His style of oratory is colloquial and convincing, a vein of practical common 
sense running through its series of arguments until a convincing conclusion is 
reached. The rapidity with which he takes up the strong points of a case and suc- 
cessively disposes of them, renders him a formidable adversary in debate. Careful 
not to infringe upon the rights, or to wound the feelings of others, he demands in 
return from others perfect respect toward himself. 

The National Republican Convention, which is to meet at Chicago in 
June, should nominate for President of the United States a man capable of sur- 
veying the whole field connected with the interests of the country, who can furnish 
Conrress with the information called for by the Constitution, and can make such 
recommendations as will be of practical value in shaping legislation ;— a man of the 
people, who has been the architect of his own fortunes, upon whose public and 
personal record there rests no stain;- a man who has been tested by honorably 
filling high positions, and who is thoroughly acquainted with our machinery of 



JOHN SHERMAN'S CLAIMS FOR THE PRESIDENCY. 43 

government; — a man whose life, whose principles, whose speeches and whose 
character are filled with humanity ; —a man whose Domination must strengthen and 
consolidate the Republican party. If the Convention seeks such a man, let it 
nominate one whose name is familiar to every intelligent citizen of the Union, 
as having maintained its credit in dark hours and successfully restored specie pay- 
ments. Let them nominate John Sherman, ofOhio. 

The nomination of Mr. Sherman in June will result in his triumphant elec- 
tion by the voters of the United States in November. His patriotism, his 
ability, his private virtues, and his public services, will comman him the 
hearty support of every true Republican, of every friend of good administration, 
of every lover of honest money. With him as a candidate, the Republican 
party can receive no assault which can dim the glory of the past or impede the 
progress of the future. His triumph will be the triumph of Uni n and liberty, 
of the rights of the people, of the prosperity and the glory f the Republic. 

With John Sherman as President, the United States would have a Govern- 
ment whose intercourse with other nations would be marked with that high de- 
gree of international justice which would neither door tolerate wrong; a Govern- 
ment which would 1 ■•■ administered al home by sound and pure men, who would 
regard offices as solemn trusts, ami not as partisan spoils ; a Government marked 
by a lofty tone of public morality, mild yet efficient, conservative yet liberal; 
a Government which would maintain the rights of the humblest citizens, and 
woidd seek the advancement of American industry and the extension of Ameri- 
can markets; a Government under which Republican principles would be pre- 
dominant through the length and the breadth of the land ; a Government under 
which our beloved country would advance rapidly in the highway of prosperity, 
honor, happiness, and glory. 



LIBKHKlf U»- CUNOKt^l 



002 259 539 8 



SHERMAN CLUB, 

CINCINNATI. 
Rooms: Fourth and Walnut Streets. 



PRESIDENT, 
H. WILSON BROWN. 

VICE-PRESIDENTS, 
FERDINAND VOGELER, HENRY MUHLHAUSER, 

WM. HENRY DAVIS, A. D. BULLOCK, 

W. N. HOBART. 

SECRETARY, 

E. O. ESHELBY. 

TREASURER, 
C. W. ALLEN. 

EXECUTIVE COMMITTEE, 
A. T. GOSIIORN, Chairman. 
ALBERT SCHWILL, GEORGE W. JONES, 

JAMES R. MURDOCH, DRAUSIN WULSIN, 

J Sec' 1 )' Ex. Com. 

COMMITTEE OF WAYS AND MEANS, 
HENRY MACK, JOHN HAUCK, 

JOHN SHILLITO, Jr., JAMES M. GLENN, 

GEORGE IIAFER. 



